Piper Sandler Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its price target hoisted by Piper Sandler from $34.00 to $50.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

GH has been the topic of a number of other reports. Scotiabank boosted their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday. Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price objective on Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a report on Friday, February 21st. Barclays assumed coverage on Guardant Health in a report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Nineteen analysts have rated the stock with a buy rating, According to MarketBeat, Guardant Health presently has an average rating of “Buy” and an average target price of $48.21.

Guardant Health Trading Up 7.0 %

GH opened at $43.19 on Wednesday. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -12.13 and a beta of 1.32. Guardant Health has a 12 month low of $15.81 and a 12 month high of $50.89. The stock has a fifty day moving average price of $40.65 and a 200-day moving average price of $31.82.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). The firm had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, equities research analysts forecast that Guardant Health will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the completion of the sale, the director now directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This trade represents a 46.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 2,768 shares of company stock worth $98,798. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Lord Abbett & CO. LLC purchased a new position in shares of Guardant Health during the third quarter worth $15,624,000. Guyasuta Investment Advisors Inc. acquired a new position in Guardant Health during the 4th quarter worth about $206,000. Cerity Partners LLC boosted its holdings in Guardant Health by 54.6% during the 3rd quarter. Cerity Partners LLC now owns 195,008 shares of the company’s stock valued at $4,473,000 after acquiring an additional 68,883 shares during the period. Geode Capital Management LLC grew its position in Guardant Health by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock valued at $64,754,000 after acquiring an additional 29,686 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Guardant Health during the fourth quarter worth about $377,000. Hedge funds and other institutional investors own 92.60% of the company’s stock.

About Guardant Health

Guardant Health, Inc, a precision oncology company, provides blood and tissue tests, data sets, and analytics in the United States and internationally. The company provides Guardant360; Guardant360 LDT; Guardant360 CDx Test; Guardant360 Response Test; Guardant360 TissueNext Test; GuardantINFINITY Test; GuardantConnect, an integrated software-based solution designed for clinical and biopharmaceutical customers to connect patients tested with assays with actionable alterations with potentially relevant clinical studies; GuardantOMNI Test for advanced stage cancer; and GuardantINFORM, an in-silico research platform for tumor evolution and treatment resistance across various biomarker-driven cancers.