JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Guardant Health (NASDAQ:GH) had its price objective increased by research analysts at JPMorgan Chase & Co. from $50.00 to $55.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 19.11% from the company’s current price.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus upped their price target on shares of Guardant Health from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. The Goldman Sachs Group upped their price target on shares of Guardant Health from $36.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Guardant Health in a research report on Wednesday, January 22nd. Sanford C. Bernstein reduced their price target 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. Finally, Barclays started coverage on shares of Guardant Health in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $60.00 price target for the company. Seventeen investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $43.53.

Guardant Health Price Performance

Shares of NASDAQ:GH traded down $1.23 during trading on Friday, hitting $46.18. 1,157,309 shares of the company were exchanged, compared to its average volume of 2,425,988. The stock has a market capitalization of $5.71 billion, a P/E ratio of -10.94 and a beta of 1.32. Guardant Health has a 12-month low of $15.81 and a 12-month high of $50.89. The firm’s 50 day moving average price is $40.03 and its 200-day moving average price is $31.51.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data 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). The company had revenue of $201.81 million for the quarter, compared to analysts’ expectations of $192.50 million. Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. As a group, equities research analysts anticipate that Guardant Health will post -3.39 EPS for the current year.

Insider Transactions at Guardant Health

In related news, Director Musa Tariq sold 2,320 shares of the stock in a transaction dated 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 directly owns 2,676 shares of the company’s stock, valued at approximately $93,660. This represents a 46.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 2,652 shares of company stock valued at $93,192 in the last ninety days. 5.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Guardant Health

Large investors have recently added to or reduced their stakes in the business. JNBA Financial Advisors acquired a new stake in Guardant Health in the 3rd quarter valued at about $26,000. R Squared Ltd purchased a new position in shares of Guardant Health during the 4th quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Guardant Health during the 3rd quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Guardant Health during the 4th quarter worth about $43,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Guardant Health during the 4th quarter worth about $58,000. 92.60% of the stock is owned by institutional investors and hedge funds.

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.