Guardant Health (NASDAQ:GH) Price Target Raised to $65.00 at Mizuho

Guardant Health (NASDAQ:GH) had its price target raised by Mizuho from $60.00 to $65.00 in a report released on Friday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised their price target on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Guggenheim restated a “buy” rating and set a $56.00 price target on shares of Guardant Health in a research report on Monday, February 24th. Canaccord Genuity Group lifted their price objective on Guardant Health from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. TD Securities lifted their price objective on Guardant Health from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, Raymond James reiterated an “outperform” rating and issued a $59.00 price objective (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Twenty-one analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $53.76.

Guardant Health Price Performance

GH opened at $49.29 on Friday. The stock’s 50 day simple moving average is $43.72 and its 200 day simple moving average is $41.56. Guardant Health has a 1 year low of $20.14 and a 1 year high of $52.92. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -13.85 and a beta of 1.37.

Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $203.47 million for the quarter, compared to analyst estimates of $189.91 million. During the same period last year, the company earned ($0.46) EPS. Guardant Health’s revenue for the quarter was up 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Guardant Health will post -2.9 EPS for the current year.

Insider Activity at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 1,680 shares of Guardant Health stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $50.00, for a total transaction of $84,000.00. Following the completion of the transaction, the chief executive officer now owns 2,187,060 shares in the company, valued at approximately $109,353,000. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 226,516 shares of company stock worth $11,226,549 over the last ninety days. 6.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GH. Driehaus Capital Management LLC purchased a new position in Guardant Health during the first quarter valued at $82,349,000. Invesco Ltd. raised its stake in Guardant Health by 100.9% during the first quarter. Invesco Ltd. now owns 2,794,667 shares of the company’s stock valued at $119,053,000 after buying an additional 1,403,670 shares during the last quarter. Norges Bank purchased a new position in Guardant Health during the fourth quarter valued at $36,438,000. Two Sigma Advisers LP raised its stake in shares of Guardant Health by 96.7% in the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock worth $70,742,000 after purchasing an additional 1,138,300 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of Guardant Health in the fourth quarter worth $26,673,000. 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.