Zacks Investment Research upgraded shares of Guardant Health (NASDAQ:GH) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. The brokerage currently has $103.00 price objective on the stock.
According to Zacks, “Guardant Health Inc. is a precision oncology company. It focuses on conquer cancer through use of proprietary blood tests, vast data sets and advanced analytics. The company’s Guardant Health Oncology Platform is designed for clinical development, regulatory and reimbursement to drive commercial adoption, improve patient clinical outcomes and lower healthcare costs. It launched multiple liquid biopsy-based tests, Guardant360 and GuardantOMNI, for advanced stage cancer patients, which fuel its development programs for recurrence and early detection, LUNAR-1 and LUNAR-2. Guardant Health Inc. is based in REDWOOD CITY, United States. “
Several other research firms have also recently issued reports on GH. JPMorgan Chase & Co. set a €52.00 ($60.47) price objective on Vonovia and gave the stock a buy rating in a research report on Friday, May 10th. Canaccord Genuity cut their price objective on Yamana Gold from C$5.50 to C$4.25 in a research report on Tuesday, April 16th. Cowen increased their price objective on Guardant Health from $40.00 to $70.00 and gave the stock an outperform rating in a research report on Wednesday, April 3rd. Finally, Bank of America set a $25.00 price objective on Bed Bath & Beyond and gave the stock a buy rating in a research report on Wednesday, April 10th. Seven analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus target price of $87.40.
Shares of GH opened at $93.65 on Thursday. Guardant Health has a twelve month low of $27.04 and a twelve month high of $106.58. The stock has a market capitalization of $8.16 billion and a P/E ratio of -33.45. The company has a fifty day moving average price of $87.25.
Guardant Health (NASDAQ:GH) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.05. The company had revenue of $36.66 million during the quarter, compared to analysts’ expectations of $32.12 million. On average, analysts expect that Guardant Health will post -1.46 earnings per share for the current fiscal year.
In other Guardant Health news, Chairman Amirali Talasaz sold 117,540 shares of Guardant Health stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $66.69, for a total transaction of $7,838,742.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ian T. Clark sold 538 shares of Guardant Health stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $65.11, for a total value of $35,029.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 434,862 shares of company stock worth $29,397,859.
A number of hedge funds have recently bought and sold shares of the business. Mascoma Wealth Management LLC acquired a new position in Guardant Health during the 1st quarter valued at approximately $54,000. Legal & General Group Plc acquired a new position in Guardant Health during the 4th quarter valued at approximately $85,000. Citigroup Inc. acquired a new position in Guardant Health during the 4th quarter valued at approximately $94,000. NEXT Financial Group Inc boosted its position in Guardant Health by 20.0% during the 2nd quarter. NEXT Financial Group Inc now owns 1,200 shares of the company’s stock valued at $104,000 after purchasing an additional 200 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Guardant Health during the 1st quarter valued at approximately $108,000. Institutional investors own 69.28% of the company’s stock.
About Guardant Health
Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.
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