Canaccord Genuity Group Issues Positive Forecast for Guardant Health (NASDAQ:GH) Stock Price

Guardant Health (NASDAQ:GH) had its target price upped by Canaccord Genuity Group from $100.00 to $125.00 in a report released on Monday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus set a $73.00 price objective on shares of Guardant Health in a report on Thursday, September 25th. TD Cowen upped their price target on Guardant Health from $63.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. UBS Group lifted their price objective on Guardant Health from $80.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Leerink Partners boosted their price objective on Guardant Health from $115.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, December 15th. Finally, Guggenheim upped their target price on Guardant Health from $56.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.71.

Guardant Health Stock Up 1.6%

Shares of GH opened at $101.34 on Monday. Guardant Health has a 52-week low of $29.91 and a 52-week high of $112.43. The firm’s fifty day moving average is $93.01 and its two-hundred day moving average is $68.07. The stock has a market cap of $12.77 billion, a PE ratio of -31.57 and a beta of 1.58.

Guardant Health (NASDAQ:GH) last issued its earnings results on Wednesday, October 29th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.09. The firm’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.88) earnings per share. As a group, research analysts anticipate that Guardant Health will post -2.9 earnings per share for the current year.

Insider Activity at Guardant Health

In other news, CTO Darya Chudova sold 5,451 shares of the stock in a transaction on Monday, December 15th. The stock was sold at an average price of $104.04, for a total transaction of $567,122.04. Following the completion of the transaction, the chief technology officer directly owned 7,012 shares in the company, valued at approximately $729,528.48. This represents a 43.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Medina Manuel Hidalgo sold 1,250 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $105.00, for a total value of $131,250.00. Following the sale, the director directly owned 797 shares of the company’s stock, valued at $83,685. The trade was a 61.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 426,663 shares of company stock valued at $44,508,069 over the last 90 days. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP increased its position in shares of Guardant Health by 19.5% in the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after acquiring an additional 138 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in shares of Guardant Health in the 3rd quarter valued at approximately $327,000. CIBC Bancorp USA Inc. acquired a new position in Guardant Health in the 3rd quarter worth approximately $796,000. Danske Bank A S purchased a new position in Guardant Health during the 3rd quarter worth approximately $62,000. Finally, Castleark Management LLC raised its stake in Guardant Health by 31.7% during the 3rd quarter. Castleark Management LLC now owns 160,073 shares of the company’s stock valued at $10,001,000 after purchasing an additional 38,513 shares during the period. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.