Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Guggenheim Analyst Says

Guardant Health (NASDAQ:GH) had its price objective raised by analysts at Guggenheim from $160.00 to $190.00 in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 21.90% from the stock’s current price.

GH has been the subject of a number of other research reports. Canaccord Genuity Group raised their target price on shares of Guardant Health from $135.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Guardant Health in a research report on Tuesday, April 21st. Piper Sandler set a $127.00 price objective on shares of Guardant Health in a research note on Thursday, May 21st. Bank of America raised their price objective on Guardant Health from $135.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Wolfe Research began coverage on Guardant Health in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $150.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and a consensus price target of $160.04.

Guardant Health Stock Up 0.6%

NASDAQ GH opened at $155.87 on Thursday. The firm’s 50 day moving average is $134.21 and its 200-day moving average is $110.26. The company has a market capitalization of $20.67 billion, a PE ratio of -45.98 and a beta of 1.59. Guardant Health has a 12-month low of $40.35 and a 12-month high of $174.08.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, CEO Amirali Talasaz sold 210,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the sale, the chief executive officer directly owned 1,886,504 shares of the company’s stock, valued at approximately $207,307,924.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Chris Freeman sold 24,406 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the completion of the sale, the insider owned 60,034 shares of the company’s stock, valued at approximately $7,124,234.78. This represents a 28.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 708,565 shares of company stock valued at $90,556,597 in the last 90 days. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Guardant Health

Several hedge funds have recently bought and sold shares of GH. GAMMA Investing LLC boosted its holdings in shares of Guardant Health by 14.5% during the 2nd quarter. GAMMA Investing LLC now owns 965 shares of the company’s stock worth $145,000 after buying an additional 122 shares in the last quarter. Allworth Financial LP grew its position in shares of Guardant Health by 19.5% during the 3rd quarter. Allworth Financial LP now owns 844 shares of the company’s stock worth $53,000 after buying an additional 138 shares during the period. Eastern Bank increased its stake in shares of Guardant Health by 6.9% in the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock valued at $221,000 after acquiring an additional 139 shares in the last quarter. First Pacific Financial increased its stake in shares of Guardant Health by 33.1% in the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after acquiring an additional 139 shares in the last quarter. Finally, Xponance LLC lifted its position in shares of Guardant Health by 2.1% during the 4th quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after acquiring an additional 199 shares during the period. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.