Guardant Health (NASDAQ:GH) PT Raised to $48.00

Guardant Health (NASDAQ:GH) had its price objective lifted by JPMorgan Chase & Co. from $45.00 to $48.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also issued reports on GH. BTIG Research increased their price objective on Guardant Health from $45.00 to $50.00 and gave the stock a buy rating in a report on Tuesday, July 30th. Craig Hallum increased their price objective on Guardant Health from $28.00 to $37.00 and gave the stock a buy rating in a report on Thursday. Stephens reissued an overweight rating and issued a $44.00 price objective on shares of Guardant Health in a report on Friday, May 24th. Bank of America increased their price target on Guardant Health from $28.00 to $40.00 and gave the company a buy rating in a research note on Thursday, July 18th. Finally, Canaccord Genuity Group increased their price target on Guardant Health from $30.00 to $38.00 and gave the company a buy rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $39.00.

Guardant Health Stock Performance

GH stock traded down $1.27 on Thursday, reaching $29.00. The company’s stock had a trading volume of 2,551,056 shares, compared to its average volume of 2,051,212. Guardant Health has a 52 week low of $15.81 and a 52 week high of $41.06. The company has a market capitalization of $3.55 billion, a P/E ratio of -7.40 and a beta of 1.13. The firm has a fifty day moving average of $30.59 and a two-hundred day moving average of $24.03. The company has a debt-to-equity ratio of 16.70, a current ratio of 5.95 and a quick ratio of 5.66.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. The business had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. During the same period last year, the company earned ($0.67) earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, analysts predict that Guardant Health will post -3.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC purchased a new stake in shares of Guardant Health in the first quarter valued at $57,000. Canton Hathaway LLC purchased a new stake in shares of Guardant Health in the second quarter valued at $59,000. Headlands Technologies LLC lifted its holdings in shares of Guardant Health by 362.3% in the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after purchasing an additional 1,844 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Guardant Health by 29.4% in the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after purchasing an additional 614 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Guardant Health in the first quarter valued at $75,000. 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.