Guardant Health (NASDAQ:GH) Research Coverage Started at Barclays

Barclays began coverage on shares of Guardant Health (NASDAQ:GH) in a research report released on Thursday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $60.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Leerink Partners cut their price target on Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Sanford C. Bernstein lowered their price objective on shares of Guardant Health from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Guggenheim reissued a “buy” rating on shares of Guardant Health in a report on Wednesday. Sixteen investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Guardant Health has an average rating of “Buy” and an average target price of $41.81.

Guardant Health Trading Down 2.9 %

Guardant Health stock opened at $47.21 on Thursday. The company has a fifty day simple moving average of $35.26 and a 200-day simple moving average of $29.54. The stock has a market cap of $5.83 billion, a P/E ratio of -11.13 and a beta of 1.28. Guardant Health has a 12-month low of $15.81 and a 12-month high of $49.86.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.33). Guardant Health had a negative return on equity of 1,200.44% and a negative net margin of 74.02%. The business had revenue of $191.48 million for the quarter, compared to analysts’ expectations of $170.49 million. During the same period last year, the firm earned ($0.73) earnings per share. The firm’s quarterly revenue was up 33.9% on a year-over-year basis. As a group, sell-side analysts forecast that Guardant Health will post -3.44 earnings per share for the current fiscal year.

Insider Transactions at Guardant Health

In other news, Director Meghan V. Joyce sold 2,896 shares of Guardant Health stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $29.90, for a total transaction of $86,590.40. Following the completion of the transaction, the director now owns 7,648 shares of the company’s stock, valued at $228,675.20. The trade was a 27.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $81,200.00. Following the completion of the sale, the director now directly owns 2,676 shares in the company, valued at approximately $93,660. The trade was a 46.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,548 shares of company stock valued at $179,782 in the last ninety days. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GH. JNBA Financial Advisors acquired a new position in shares of Guardant Health in the third quarter valued at approximately $26,000. R Squared Ltd acquired a new position in Guardant Health in the 4th quarter valued at $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Guardant Health during the 3rd quarter worth $34,000. Quarry LP purchased a new position in shares of Guardant Health during the 2nd quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Guardant Health during the second quarter worth $71,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.