Guardant Health Inc (NASDAQ:GH) Receives Consensus Rating of “Buy” from Brokerages

Shares of Guardant Health Inc (NASDAQ:GH) have been assigned an average recommendation of “Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $83.50.

A number of analysts have commented on GH shares. Zacks Investment Research cut Guardant Health from a “hold” rating to a “sell” rating in a research report on Monday, March 18th. William Blair reaffirmed an “outperform” rating on shares of Guardant Health in a research report on Wednesday, March 13th. Bank of America reaffirmed a “neutral” rating and set a $60.00 price target (up previously from $42.00) on shares of Guardant Health in a research report on Thursday, February 28th. JPMorgan Chase & Co. lifted their price target on Guardant Health from $42.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, Canaccord Genuity started coverage on Guardant Health in a research report on Tuesday, April 16th. They set a “buy” rating and a $90.00 price target for the company.

Shares of GH opened at $86.63 on Wednesday. The stock’s 50-day moving average price is $81.10. Guardant Health has a one year low of $27.04 and a one year high of $106.58. The firm has a market cap of $7.68 billion and a PE ratio of -30.94.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.05. The firm had revenue of $36.66 million for the quarter, compared to analyst estimates of $32.12 million. As a group, research analysts forecast that Guardant Health will post -1.46 EPS for the current fiscal year.

In other news, CEO Helmy Eltoukhy sold 90,000 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $65.28, for a total value of $5,875,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Amirali Talasaz sold 232,460 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $65.60, for a total value of $15,249,376.00. The disclosure for this sale can be found here. In the last three months, insiders sold 975,338 shares of company stock valued at $66,706,026.

Several hedge funds have recently modified their holdings of GH. Mascoma Wealth Management LLC acquired a new position in Guardant Health in the 1st quarter worth about $54,000. SG Americas Securities LLC acquired a new position in Guardant Health in the 1st quarter worth about $108,000. Financial Advocates Investment Management acquired a new position in Guardant Health in the 4th quarter worth about $220,000. Legal & General Group Plc acquired a new position in Guardant Health in the 4th quarter worth about $85,000. Finally, Citigroup Inc. acquired a new position in Guardant Health in the 4th quarter worth about $94,000. 69.15% of the stock is owned by institutional investors and hedge funds.

About Guardant Health

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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Analyst Recommendations for Guardant Health (NASDAQ:GH)

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