Canaccord Genuity Group Boosts Guardant Health (NASDAQ:GH) Price Target to $205.00

Guardant Health (NASDAQ:GH) had its price target lifted by research analysts at Canaccord Genuity Group from $135.00 to $205.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 29.42% from the company’s previous close.

A number of other equities analysts also recently commented on GH. BTIG Research lifted their target price on shares of Guardant Health from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein increased their price target on shares of Guardant Health from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, July 2nd. Mizuho raised their price target on shares of Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Guggenheim lifted their price target on shares of Guardant Health from $135.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Finally, The Goldman Sachs Group assumed coverage on Guardant Health in a report on Friday, June 5th. They issued a “buy” rating and a $165.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.74.

Guardant Health Trading Down 1.0%

Shares of GH opened at $158.40 on Tuesday. Guardant Health has a 12-month low of $40.35 and a 12-month high of $174.08. The firm has a 50-day moving average price of $128.92 and a 200 day moving average price of $108.75. The firm has a market capitalization of $21.00 billion, a P/E ratio of -46.73 and a beta of 1.59.

Insider Transactions at Guardant Health

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total transaction of $12,630,000.00. Following the sale, the chief executive officer directly owned 2,012,919 shares in the company, valued at $254,231,669.70. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Musa Tariq sold 1,951 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total transaction of $255,893.16. Following the completion of the transaction, the director directly owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. The trade was a 15.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 708,681 shares of company stock worth $90,566,438. 5.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Guardant Health

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Guardant Health by 56.5% in the first quarter. AQR Capital Management LLC now owns 71,534 shares of the company’s stock worth $3,012,000 after acquiring an additional 25,831 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Guardant Health in the first quarter valued at $274,000. Sei Investments Co. raised its stake in shares of Guardant Health by 15.8% in the second quarter. Sei Investments Co. now owns 77,308 shares of the company’s stock valued at $4,023,000 after acquiring an additional 10,538 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Guardant Health by 9.4% in the second quarter. The Manufacturers Life Insurance Company now owns 632,630 shares of the company’s stock valued at $32,922,000 after purchasing an additional 54,284 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Guardant Health by 56.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 111,445 shares of the company’s stock valued at $5,800,000 after purchasing an additional 40,209 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.