Guardant Health (NASDAQ:GH) Receives New Coverage from Analysts at Craig Hallum

Stock analysts at Craig Hallum assumed coverage on shares of Guardant Health (NASDAQ:GH) in a report released on Wednesday, Marketbeat.com reports. The firm set a “buy” rating and a $28.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 63.17% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Guardant Health from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 23rd. Piper Sandler dropped their target price on shares of Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Monday, February 26th. JPMorgan Chase & Co. cut their target price on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, February 23rd. Guggenheim reiterated a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. Finally, The Goldman Sachs Group cut their price objective on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Guardant Health presently has an average rating of “Moderate Buy” and an average price target of $39.27.

Guardant Health Stock Down 5.2 %

GH opened at $17.16 on Wednesday. The company has a fifty day moving average of $18.94 and a two-hundred day moving average of $23.00. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -4.01 and a beta of 0.87. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $41.06. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share for the quarter, missing the consensus estimate of ($0.93) by ($0.65). The business had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $151.71 million. Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. On average, research analysts expect that Guardant Health will post -3.49 earnings per share for the current year.

Insider Activity at Guardant Health

In related news, insider Kumud Kalia purchased 2,187 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $17.82 per share, with a total value of $38,972.34. Following the completion of the acquisition, the insider now owns 12,722 shares in the company, valued at $226,706.04. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Trading of Guardant Health

Hedge funds have recently made changes to their positions in the company. CWM LLC raised its position in shares of Guardant Health by 137.1% during the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after buying an additional 569 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Guardant Health during the 3rd quarter valued at approximately $35,000. Headlands Technologies LLC raised its position in shares of Guardant Health by 362.3% during the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock valued at $64,000 after buying an additional 1,844 shares during the period. Van ECK Associates Corp raised its position in shares of Guardant Health by 29.4% during the 4th quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock valued at $73,000 after buying an additional 614 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Guardant Health by 26.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company’s stock valued at $102,000 after buying an additional 713 shares during the period. Hedge funds and other institutional investors 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.