Guardant Health (NASDAQ:GH) Price Target Raised to $125.00

Guardant Health (NASDAQ:GH) had its target price upped by Canaccord Genuity Group from $100.00 to $125.00 in a report released on Monday, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on GH. Guggenheim boosted their price objective on Guardant Health from $56.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Stifel Nicolaus set a $73.00 target price on Guardant Health in a research note on Thursday, September 25th. JPMorgan Chase & Co. boosted their price target on Guardant Health from $90.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Mizuho upped their price target on Guardant Health from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of Guardant Health in a report on Thursday, September 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.71.

Guardant Health Stock Performance

NASDAQ:GH opened at $102.59 on Monday. The stock has a 50-day simple moving average of $94.58 and a two-hundred day simple moving average of $68.69. The firm has a market capitalization of $12.93 billion, a PE ratio of -31.96 and a beta of 1.58. Guardant Health has a 52-week low of $29.91 and a 52-week high of $112.43.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.09. The firm’s revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.88) EPS. Equities analysts forecast that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chris Freeman sold 31,452 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $103.07, for a total transaction of $3,241,757.64. Following the completion of the transaction, the insider directly owned 25,987 shares of the company’s stock, valued at approximately $2,678,480.09. The trade was a 54.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Brian Bell sold 80,362 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $103.14, for a total transaction of $8,288,536.68. Following the completion of the sale, the chief financial officer directly owned 28,052 shares in the company, valued at approximately $2,893,283.28. This represents a 74.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 426,663 shares of company stock valued at $44,508,069. Corporate insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GH. Signaturefd LLC lifted its holdings in Guardant Health by 50.5% in the second quarter. Signaturefd LLC now owns 635 shares of the company’s stock valued at $33,000 after acquiring an additional 213 shares during the period. IFP Advisors Inc lifted its stake in shares of Guardant Health by 120.1% in the second quarter. IFP Advisors Inc now owns 612 shares of the company’s stock valued at $33,000 after purchasing an additional 334 shares during the period. Allworth Financial LP boosted its holdings in Guardant Health by 358.4% during the second quarter. Allworth Financial LP now owns 706 shares of the company’s stock worth $37,000 after buying an additional 552 shares in the last quarter. Sound Income Strategies LLC acquired a new position in Guardant Health during the third quarter worth about $38,000. Finally, Optiver Holding B.V. increased its holdings in Guardant Health by 153.5% in the third quarter. Optiver Holding B.V. now owns 768 shares of the company’s stock valued at $48,000 after buying an additional 465 shares in the last quarter. 92.60% of the stock is currently owned by institutional investors and hedge funds.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.