Guardant Health (NASDAQ:GH) Price Target Cut to $50.00

Guardant Health (NASDAQ:GH) had its price target reduced by equities researchers at Morgan Stanley from $55.00 to $50.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 122.32% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Citigroup restated a “buy” rating and issued a $50.00 target price on shares of Guardant Health in a research note on Monday, October 2nd. Sanford C. Bernstein began coverage on shares of Guardant Health in a research note on Thursday, September 28th. They issued an “outperform” rating and a $34.00 target price for the company. William Blair restated an “outperform” rating on shares of Guardant Health in a research note on Friday, September 8th. The Goldman Sachs Group decreased their target price on shares of Guardant Health from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Finally, Piper Sandler upgraded shares of Guardant Health from a “neutral” rating to an “overweight” rating and set a $40.00 target price for the company in a research note on Wednesday, September 27th. Fourteen analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $50.79.

Guardant Health Price Performance

GH opened at $22.49 on Wednesday. The company has a quick ratio of 6.65, a current ratio of 5.94 and a debt-to-equity ratio of 4.99. Guardant Health has a 52-week low of $20.67 and a 52-week high of $54.47. The company has a 50 day moving average of $28.38 and a two-hundred day moving average of $31.72. The company has a market cap of $2.65 billion, a P/E ratio of -5.54 and a beta of 0.96.

Insiders Place Their Bets

In other Guardant Health news, insider Kumud Kalia sold 2,125 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $32.59, for a total transaction of $69,253.75. Following the sale, the insider now directly owns 7,813 shares of the company’s stock, valued at $254,625.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Guardant Health

Institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Advisory Services LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth about $27,000. CWM LLC increased its holdings in shares of Guardant Health by 137.1% in the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock worth $29,000 after acquiring an additional 569 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Guardant Health in the 3rd quarter worth about $35,000. Acadian Asset Management LLC acquired a new stake in shares of Guardant Health in the 1st quarter worth about $37,000. Finally, Captrust Financial Advisors increased its holdings in shares of Guardant Health by 33.2% in the 2nd quarter. Captrust Financial Advisors now owns 1,087 shares of the company’s stock worth $44,000 after acquiring an additional 271 shares during the period. 92.65% 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 Guardant360; Guardant360 LDT; Guardant360 CDx; 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.