Guardant Health, Inc. (NASDAQ:GH) Given Average Recommendation of “Buy” by Brokerages

Shares of Guardant Health, Inc. (NASDAQ:GH) have received an average rating of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Fifteen research analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have covered the stock in the last year is $40.60.

A number of brokerages have weighed in on GH. UBS Group lifted their price target on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. The Goldman Sachs Group lifted their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Guardant Health from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein lowered their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Leerink Partners cut their price objective on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th.

Guardant Health Price Performance

GH stock opened at $34.76 on Monday. Guardant Health has a 52-week low of $15.81 and a 52-week high of $38.53. The company has a quick ratio of 5.85, a current ratio of 6.22 and a debt-to-equity ratio of 16.70. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -8.20 and a beta of 1.26. The business has a fifty day moving average of $27.92 and a two-hundred day moving average of $28.16.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business’s revenue for the quarter was up 33.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.73) earnings per share. As a group, research analysts anticipate that Guardant Health will post -3.44 earnings per share for the current year.

Insider Buying and Selling

In other Guardant Health news, Director Meghan V. Joyce sold 2,896 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $29.90, for a total value of $86,590.40. Following the sale, the director now directly owns 7,648 shares of the company’s stock, valued at approximately $228,675.20. This represents a 27.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Guardant Health

Institutional investors have recently modified their holdings of the company. JNBA Financial Advisors acquired a new stake in shares of Guardant Health during the 3rd quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in Guardant Health in the third quarter valued at approximately $34,000. Quarry LP acquired a new stake in Guardant Health during the second quarter worth approximately $44,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health during the 2nd quarter worth approximately $71,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $77,000. 92.60% of the stock is owned by hedge funds and other 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.