Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, BTIG Research Analyst Says

Guardant Health (NASDAQ:GH) had its target price boosted by BTIG Research from $100.00 to $140.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 38.09% from the stock’s current price.

A number of other brokerages have also recently commented on GH. Barclays raised their price target on shares of Guardant Health from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Morgan Stanley increased their target price on Guardant Health from $105.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, December 1st. Canaccord Genuity Group set a $100.00 price target on Guardant Health in a research note on Thursday, October 30th. TD Cowen upped their price target on Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, Piper Sandler lifted their price objective on Guardant Health from $60.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and an average price target of $84.43.

Guardant Health Price Performance

GH opened at $101.38 on Friday. The company has a market capitalization of $12.78 billion, a P/E ratio of -31.58 and a beta of 1.58. The firm’s fifty day moving average price is $87.93 and its two-hundred day moving average price is $64.89. Guardant Health has a fifty-two week low of $29.91 and a fifty-two week high of $112.43.

Guardant Health (NASDAQ:GH) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.09. During the same quarter in the prior year, the company earned ($0.88) EPS. The company’s revenue for the quarter was up 38.5% on a year-over-year basis. On average, equities research analysts expect that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Brian Bell sold 80,362 shares of Guardant Health stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $103.14, for a total value of $8,288,536.68. Following the completion of the transaction, the chief financial officer directly owned 28,052 shares of the company’s stock, valued at $2,893,283.28. The trade was a 74.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Darya Chudova sold 13,664 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $105.04, for a total transaction of $1,435,266.56. Following the transaction, the chief technology officer owned 54,480 shares in the company, valued at approximately $5,722,579.20. This trade represents a 20.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 330,673 shares of company stock valued at $34,534,618 in the last 90 days. 6.10% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

Several hedge funds have recently modified their holdings of GH. Baillie Gifford & Co. raised its position in Guardant Health by 6.6% in the 3rd quarter. Baillie Gifford & Co. now owns 5,127,692 shares of the company’s stock worth $320,378,000 after purchasing an additional 317,906 shares during the last quarter. Invesco Ltd. increased its stake in shares of Guardant Health by 27.3% in the 2nd quarter. Invesco Ltd. now owns 3,558,501 shares of the company’s stock valued at $185,184,000 after buying an additional 763,834 shares during the period. Franklin Resources Inc. raised its position in shares of Guardant Health by 26.1% during the third quarter. Franklin Resources Inc. now owns 2,926,315 shares of the company’s stock worth $182,836,000 after acquiring an additional 606,368 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Guardant Health by 0.5% during the second quarter. Geode Capital Management LLC now owns 2,920,714 shares of the company’s stock valued at $152,014,000 after acquiring an additional 13,088 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in Guardant Health by 100.4% in the second quarter. ARK Investment Management LLC now owns 2,823,497 shares of the company’s stock valued at $146,935,000 after acquiring an additional 1,414,381 shares during the last quarter. 92.60% of the stock is owned by institutional investors.

Guardant Health Company Profile

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.