Guardant Health (NASDAQ:GH) Coverage Initiated by Analysts at Roth Capital

Equities researchers at Roth Capital initiated coverage on shares of Guardant Health (NASDAQ:GH) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm set a “buy” rating on the stock.

Several other equities research analysts also recently issued reports on GH. Stephens increased their target price on Guardant Health from $170.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $210.00 target price on shares of Guardant Health in a research note on Thursday, September 10th. Morgan Stanley lifted their target price on shares of Guardant Health from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Royal Bank Of Canada boosted their price target on shares of Guardant Health from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Citigroup increased their price target on shares of Guardant Health from $150.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $190.40.

Guardant Health Stock Performance

NASDAQ GH traded up $6.14 during trading on Thursday, hitting $169.08. 1,669,577 shares of the company’s stock traded hands, compared to its average volume of 1,756,376. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of -48.45 and a beta of 1.58. Guardant Health has a 12-month low of $68.02 and a 12-month high of $191.05. The business has a 50 day moving average of $168.04 and a 200-day moving average of $141.69.

Guardant Health (NASDAQ:GH) last issued its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million for the quarter, compared to the consensus estimate of $314.23 million. Guardant Health’s revenue for the quarter was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) EPS. On average, analysts expect that Guardant Health will post -3.02 EPS for the current year.

Insider Activity

In related news, CTO Darya Chudova sold 7,738 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $178.00, for a total transaction of $1,377,364.00. Following the transaction, the chief technology officer directly owned 70,635 shares of the company’s stock, valued at approximately $12,573,030. This trade represents a 9.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steve E. Krognes sold 6,674 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $175.74, for a total value of $1,172,888.76. Following the completion of the sale, the director owned 7,906 shares of the company’s stock, valued at $1,389,400.44. The trade was a 45.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 178,940 shares of company stock valued at $30,070,911. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GH. MCF Advisors LLC lifted its holdings in shares of Guardant Health by 755.0% in the 2nd quarter. MCF Advisors LLC now owns 171 shares of the company’s stock worth $26,000 after acquiring an additional 151 shares during the last quarter. NFSG Corp purchased a new stake in shares of Guardant Health in the 3rd quarter valued at $33,000. Ascentis Independent Advisors purchased a new stake in shares of Guardant Health in the 1st quarter valued at $38,000. Hollencrest Capital Management bought a new position in shares of Guardant Health during the 1st quarter valued at $41,000. Finally, TrinityBridge Ltd bought a new position in shares of Guardant Health during the 2nd quarter valued at $45,000. 92.60% of the stock is currently owned by institutional investors.

About Guardant Health

Guardant Health, Inc (NASDAQ:GH) is a precision oncology company that develops blood-based tests and data solutions designed to help detect cancer, guide treatment decisions and monitor patients over time. Its technologies analyze circulating tumor DNA and other molecular information from blood samples, supporting more accessible and less invasive alternatives to some tissue-based testing approaches.

The company’s products include Guardant360, which helps identify genomic alterations in advanced cancers and may inform targeted treatment selection; Guardant360 Response, designed to assess a patient’s response to therapy; and Guardant Reveal, which is used to detect minimal residual disease and recurrence risk in certain cancers.