The Goldman Sachs Group Increases Guardant Health (NASDAQ:GH) Price Target to $56.00

Guardant Health (NASDAQ:GH) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $49.00 to $56.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 30.63% from the company’s previous close.

A number of other equities research analysts have also recently commented on GH. Sanford C. Bernstein decreased their target price on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Guardant Health from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. Barclays started coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They set an “overweight” rating and a $60.00 target price for the company. Raymond James reissued an “outperform” rating and set a $59.00 target price (up previously from $39.00) on shares of Guardant Health in a research report on Friday. Finally, Guggenheim reissued a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Eighteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $44.78.

Guardant Health Stock Performance

Shares of GH opened at $42.87 on Friday. The company has a 50 day moving average price of $40.19 and a 200-day moving average price of $31.59. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89. The stock has a market capitalization of $5.30 billion, a PE ratio of -12.04 and a beta of 1.32.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.15). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million during the quarter, compared to analysts’ expectations of $192.50 million. Equities research analysts forecast that Guardant Health will post -2.9 EPS for the current year.

Insider Transactions at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $35.00, for a total value of $81,200.00. Following the sale, the director now owns 2,676 shares in the company, valued at $93,660. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 2,768 shares of company stock worth $98,798 over the last 90 days. 5.50% of the stock is currently owned by company insiders.

Institutional Trading of Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Guardant Health during the fourth quarter valued at $79,000. Twinbeech Capital LP acquired a new stake in Guardant Health during the fourth quarter valued at $367,000. Two Sigma Advisers LP grew its position in Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock valued at $70,742,000 after buying an additional 1,138,300 shares during the period. Two Sigma Investments LP grew its position in Guardant Health by 38.5% during the fourth quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company’s stock valued at $57,761,000 after buying an additional 525,368 shares during the period. Finally, Tema Etfs LLC acquired a new stake in Guardant Health during the fourth quarter valued at $1,103,000. Institutional investors and hedge funds own 92.60% of the company’s stock.

Guardant Health Company Profile

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.