Mizuho Initiates Coverage on Guardant Health (NASDAQ:GH)

Mizuho began coverage on shares of Guardant Health (NASDAQ:GH) in a report issued on Thursday,Benzinga reports. The brokerage set an “outperform” rating and a $55.00 price target on the stock. Mizuho’s target price suggests a potential upside of 32.98% from the company’s current price.

Other research analysts have also recently issued reports about the company. Raymond James reissued an “outperform” rating and set a $59.00 target price (up from $39.00) on shares of Guardant Health in a research note on Friday, February 21st. The Goldman Sachs Group boosted their target price on Guardant Health from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Stifel Nicolaus boosted their target price on Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $56.00 price objective on shares of Guardant Health in a research report on Monday, February 24th. Finally, Barclays assumed coverage on Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 price objective for the company. Twenty-one research analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health currently has a consensus rating of “Buy” and an average price target of $49.24.

Guardant Health Stock Down 5.7 %

NASDAQ:GH traded down $2.51 on Thursday, reaching $41.36. The company’s stock had a trading volume of 374,530 shares, compared to its average volume of 2,127,748. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -11.62 and a beta of 1.45. Guardant Health has a 12-month low of $15.81 and a 12-month high of $50.89. The stock has a 50 day moving average price of $43.77 and a 200 day moving average price of $35.41.

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

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently made changes to their positions in GH. Janus Henderson Group PLC boosted its holdings in shares of Guardant Health by 16.2% during the third quarter. Janus Henderson Group PLC now owns 60,578 shares of the company’s stock worth $1,390,000 after purchasing an additional 8,432 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Guardant Health by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,822,220 shares of the company’s stock worth $64,754,000 after purchasing an additional 29,686 shares during the last quarter. Exome Asset Management LLC boosted its holdings in shares of Guardant Health by 13.7% during the third quarter. Exome Asset Management LLC now owns 89,800 shares of the company’s stock worth $2,060,000 after purchasing an additional 10,800 shares during the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of Guardant Health during the third quarter worth $15,624,000. Finally, Fiduciary Alliance LLC boosted its holdings in shares of Guardant Health by 7.6% during the fourth quarter. Fiduciary Alliance LLC now owns 11,879 shares of the company’s stock worth $363,000 after purchasing an additional 836 shares during the last quarter. Institutional investors and hedge funds own 92.60% of the company’s stock.

About Guardant Health

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.