Guardant Health (NASDAQ:GH) Raised to Strong-Buy at Mizuho

Mizuho upgraded shares of Guardant Health (NASDAQ:GH) to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.

A number of other analysts also recently weighed in on GH. Scotiabank lifted their price target on Guardant Health from $47.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, February 24th. Stifel Nicolaus boosted their target price on shares of Guardant Health from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Guggenheim reiterated a “buy” rating and issued a $56.00 price target on shares of Guardant Health in a report on Monday, February 24th. Raymond James restated an “outperform” rating and issued a $59.00 price target (up previously from $39.00) on shares of Guardant Health in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Guardant Health from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Twenty research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $49.00.

Guardant Health Stock Performance

GH stock traded down $0.12 during mid-day trading on Wednesday, reaching $41.03. The company had a trading volume of 73,650 shares, compared to its average volume of 2,127,313. The firm has a fifty day simple moving average of $43.64 and a 200 day simple moving average of $35.54. The company has a market capitalization of $5.06 billion, a price-to-earnings ratio of -11.59 and a beta of 1.45. Guardant Health has a fifty-two week low of $15.81 and a fifty-two week high of $50.89.

Guardant Health (NASDAQ:GH) last issued its earnings results 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). Guardant Health had a negative return on equity of 19,157.20% and a negative net margin of 59.05%. The business had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. As a group, analysts predict that Guardant Health will post -2.9 earnings per share for the current year.

Institutional Trading of Guardant Health

Several large investors have recently added to or reduced their stakes in GH. Norges Bank purchased a new position in shares of Guardant Health during the 4th quarter valued at $36,438,000. Two Sigma Advisers LP raised its position in Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company’s stock valued at $70,742,000 after acquiring an additional 1,138,300 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Guardant Health in the 4th quarter valued at $26,673,000. Lord Abbett & CO. LLC bought a new position in Guardant Health during the third quarter valued at about $15,624,000. Finally, Two Sigma Investments LP increased its holdings in shares of Guardant Health by 38.5% during the 4th quarter. Two Sigma Investments LP now owns 1,890,714 shares of the company’s stock valued at $57,761,000 after acquiring an additional 525,368 shares during the last quarter. 92.60% of the stock is 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.