Leerink Partners Trims Guardant Health (NASDAQ:GH) Target Price to $50.00

Guardant Health (NASDAQ:GH) had its target price decreased by equities researchers at Leerink Partners from $60.00 to $50.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target suggests a potential upside of 131.27% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Craig Hallum increased their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. UBS Group lifted their price objective on Guardant Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Guggenheim raised Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Friday, June 28th. Citigroup raised their target price on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Piper Sandler boosted their price target on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.31.

Guardant Health Price Performance

Guardant Health stock opened at $21.62 on Thursday. The stock has a 50-day moving average price of $24.95 and a two-hundred day moving average price of $25.49. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. Guardant Health has a 12 month low of $15.81 and a 12 month high of $37.04. The company has a market capitalization of $2.65 billion, a PE ratio of -5.52 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). The company had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.67) EPS. Analysts expect that Guardant Health will post -3.31 EPS for the current year.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SWS Partners boosted its position in Guardant Health by 6.2% in the third quarter. SWS Partners now owns 83,762 shares of the company’s stock worth $1,922,000 after purchasing an additional 4,905 shares during the last quarter. Wesbanco Bank Inc. purchased a new stake in Guardant Health during the third quarter valued at about $296,000. Exchange Traded Concepts LLC boosted its position in Guardant Health by 14.4% during the third quarter. Exchange Traded Concepts LLC now owns 41,009 shares of the company’s stock worth $941,000 after purchasing an additional 5,160 shares during the period. Green Alpha Advisors LLC boosted its position in Guardant Health by 23.6% during the third quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company’s stock worth $201,000 after purchasing an additional 1,674 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Guardant Health by 14.8% in the third quarter. Handelsbanken Fonder AB now owns 27,141 shares of the company’s stock worth $623,000 after purchasing an additional 3,500 shares in the last quarter. 92.60% of the stock is owned by institutional investors.

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.