Guardant Health (NASDAQ:GH) Lowered to Hold at Zacks Investment Research
According to Zacks, “Guardant Health Inc. is a precision oncology company. It focuses on conquer cancer through use of proprietary blood tests, vast data sets and advanced analytics. The company’s Guardant Health Oncology Platform is designed for clinical development, regulatory and reimbursement to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs. It launched multiple liquid biopsy-based tests, Guardant360 and GuardantOMNI, for advanced stage cancer patients, which fuel its development programs for recurrence and early detection, LUNAR-1 and LUNAR-2. Guardant Health Inc. is based in REDWOOD CITY, United States. “
Other equities analysts also recently issued research reports about the stock. Cowen set a $110.00 price objective on shares of Guardant Health and gave the stock a buy rating in a report on Wednesday, August 7th. Canaccord Genuity reaffirmed a buy rating and issued a $125.00 price objective (up previously from $96.00) on shares of Guardant Health in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Guardant Health from $90.00 to $135.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $111.80.
Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.21. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The business had revenue of $53.98 million during the quarter, compared to the consensus estimate of $35.97 million. During the same quarter last year, the company earned ($1.75) earnings per share. The business’s quarterly revenue was up 178.5% compared to the same quarter last year. Equities analysts predict that Guardant Health will post -1.27 earnings per share for the current fiscal year.
In other Guardant Health news, Director Ian T. Clark sold 9,683 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $89.75, for a total transaction of $869,049.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Richard B. Lanman sold 1,690 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $80.00, for a total value of $135,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,448 shares of company stock worth $7,642,893. 13.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Advantage Investment Management LLC grew its stake in shares of Guardant Health by 200.0% in the 2nd quarter. Advantage Investment Management LLC now owns 450 shares of the company’s stock valued at $39,000 after buying an additional 300 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in shares of Guardant Health in the 1st quarter valued at approximately $54,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Guardant Health in the 2nd quarter valued at approximately $62,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Guardant Health in the 2nd quarter valued at approximately $76,000. Finally, FNY Investment Advisers LLC grew its stake in shares of Guardant Health by 7,816.7% in the 2nd quarter. FNY Investment Advisers LLC now owns 950 shares of the company’s stock valued at $82,000 after buying an additional 938 shares in the last quarter. Hedge funds and other institutional investors own 72.78% of the company’s stock.
Guardant Health Company Profile
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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