Piper Sandler Raises Guardant Health (NASDAQ:GH) Price Target to $50.00

Guardant Health (NASDAQ:GH) had its price objective increased by stock analysts at Piper Sandler from $34.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 15.81% from the company’s previous close.

Several other brokerages also recently commented on GH. The Goldman Sachs Group increased their price objective on shares of Guardant Health from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Sanford C. Bernstein reduced their price objective 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. Barclays started coverage on shares of Guardant Health in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price objective on the stock. Finally, Raymond James reiterated an “outperform” rating and issued a $59.00 price target (up from $39.00) on shares of Guardant Health in a research report on Friday, February 21st. Nineteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $48.21.

Guardant Health Stock Performance

NASDAQ:GH traded up $2.82 during trading on Wednesday, reaching $43.17. The company’s stock had a trading volume of 1,265,016 shares, compared to its average volume of 2,524,168. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -12.14 and a beta of 1.32. Guardant Health has a 12 month low of $15.81 and a 12 month high of $50.89. The firm has a 50 day moving average of $40.43 and a 200-day moving average of $31.74.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. The firm had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Equities research analysts forecast that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Musa Tariq sold 2,320 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the completion of the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders sold 2,768 shares of company stock worth $98,798. 5.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. JNBA Financial Advisors acquired a new position in shares of Guardant Health during the 3rd quarter worth about $26,000. R Squared Ltd bought a new stake in shares of Guardant Health during the fourth quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Guardant Health during the third quarter worth $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Guardant Health during the fourth quarter worth $43,000. Finally, Kimelman & Baird LLC bought a new stake in Guardant Health in the 4th quarter valued at $58,000. 92.60% of the stock is currently 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.