Guardant Health, Inc. (NASDAQ:GH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Guardant Health, Inc. (NASDAQ:GH) have earned an average rating of “Moderate Buy” from the twenty-six research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $184.5833.

GH has been the topic of several research analyst reports. Wolfe Research initiated coverage on Guardant Health in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 price objective on the stock. Barclays increased their price objective on Guardant Health from $150.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 31st. BTIG Research restated a “buy” rating and set a $195.00 price target on shares of Guardant Health in a report on Wednesday, September 2nd. Evercore reiterated an “outperform” rating and set a $200.00 price objective on shares of Guardant Health in a research report on Monday, July 6th. Finally, Sanford C. Bernstein lifted their price objective on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd.

Insider Buying and Selling

In related news, Director Ian Clark sold 14,180 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $158.92, for a total transaction of $2,253,485.60. Following the completion of the transaction, the director owned 2,975 shares in the company, valued at approximately $472,787. This represents a 82.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terilyn Monroe sold 46,300 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the transaction, the insider owned 22,979 shares in the company, valued at approximately $3,794,292.48. The trade was a 66.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 427,024 shares of company stock worth $67,113,285 in the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. ABS Investment Management LLC purchased a new position in shares of Guardant Health in the second quarter valued at $345,069,000. TrinityBridge Ltd bought a new position in shares of Guardant Health in the second quarter worth $45,000. Elyxium Wealth LLC bought a new position in shares of Guardant Health in the fourth quarter worth $35,000. Parallel Advisors LLC raised its position in shares of Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company’s stock worth $36,000 after buying an additional 219 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of Guardant Health in the second quarter worth $59,000. 92.60% of the stock is owned by institutional investors.

Guardant Health Trading Down 0.3%

NASDAQ GH opened at $160.98 on Wednesday. The firm has a market capitalization of $21.60 billion, a P/E ratio of -46.13 and a beta of 1.57. Guardant Health has a 1 year low of $53.40 and a 1 year high of $176.58. The firm’s fifty day moving average price is $160.27 and its two-hundred day moving average price is $123.62.

Guardant Health (NASDAQ:GH) last released its earnings results on Thursday, July 30th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.34. The firm had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. Guardant Health’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.44) earnings per share. On average, research analysts anticipate that Guardant Health will post -2.98 EPS for the current fiscal year.

About Guardant Health

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.