The Goldman Sachs Group Raises Guardant Health (NASDAQ:GH) Price Target to $36.00

Guardant Health (NASDAQ:GH) had its price objective lifted by The Goldman Sachs Group from $32.00 to $36.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 24.35% from the company’s previous close.

Several other research firms have also commented on GH. JPMorgan Chase & Co. boosted their price objective on shares of Guardant Health from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Piper Sandler increased their price objective on Guardant Health from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Citigroup boosted 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. Sanford C. Bernstein decreased their price target on Guardant Health from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Leerink Partners dropped their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $40.24.

Guardant Health Stock Up 14.5 %

Shares of GH traded up $3.66 during trading hours on Thursday, hitting $28.95. The company had a trading volume of 2,878,504 shares, compared to its average volume of 2,053,417. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The company has a market capitalization of $3.56 billion, a PE ratio of -7.08 and a beta of 1.11. Guardant Health has a one year low of $15.81 and a one year high of $37.04. The company’s fifty day moving average price is $23.02 and its two-hundred day moving average price is $25.88.

Guardant Health (NASDAQ:GH) last announced its 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). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. During the same quarter in the prior year, the firm posted ($0.67) earnings per share. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities analysts forecast that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Aigen Investment Management LP boosted its position in Guardant Health by 23.9% in the 3rd quarter. Aigen Investment Management LP now owns 19,103 shares of the company’s stock worth $438,000 after purchasing an additional 3,683 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after purchasing an additional 1,137,482 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Guardant Health in the third quarter valued at approximately $34,000. State of New Jersey Common Pension Fund D raised its stake in shares of Guardant Health by 4.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 74,180 shares of the company’s stock worth $1,702,000 after buying an additional 2,894 shares during the period. Finally, ARK Investment Management LLC lifted its position in shares of Guardant Health by 233.5% during the 3rd quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after buying an additional 1,059,104 shares in the last quarter. 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.