Stock analysts at Canaccord Genuity began coverage on shares of Guardant Health (NASDAQ:GH) in a note issued to investors on Tuesday, The Fly reports. The firm set a “buy” rating and a $90.00 price target on the stock. Canaccord Genuity’s price objective would suggest a potential upside of 21.59% from the company’s current price.
GH has been the topic of several other reports. Cowen raised their target price on shares of Guardant Health from $40.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their target price on shares of Guardant Health from $42.00 to $85.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Zacks Investment Research cut shares of Guardant Health from a “hold” rating to a “sell” rating in a report on Monday, March 18th. William Blair reiterated an “outperform” rating on shares of Guardant Health in a research report on Wednesday, March 13th. Finally, Bank of America upgraded shares of Guardant Health from a “neutral” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $82.25.
Shares of GH opened at $74.02 on Tuesday. Guardant Health has a 12 month low of $27.04 and a 12 month high of $106.58. The company has a market cap of $6.66 billion and a PE ratio of -26.44.
Guardant Health (NASDAQ:GH) last announced its earnings results on Tuesday, March 12th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. The business had revenue of $32.87 million for the quarter, compared to the consensus estimate of $24.57 million. On average, research analysts predict that Guardant Health will post -1.5 EPS for the current fiscal year.
In related news, major shareholder Vision Fund (Aiv M1) Softbank bought 2,033,990 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were purchased at an average price of $9.83 per share, for a total transaction of $19,994,121.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new stake in Guardant Health in the fourth quarter valued at $26,000. Financial Advocates Investment Management bought a new stake in Guardant Health in the fourth quarter valued at $220,000. Legal & General Group Plc bought a new stake in Guardant Health in the fourth quarter valued at $85,000. Citigroup Inc. bought a new stake in Guardant Health in the fourth quarter valued at $94,000. Finally, Victory Capital Management Inc. bought a new stake in Guardant Health in the fourth quarter valued at $124,000. 69.45% of the stock is owned by institutional investors and hedge funds.
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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