Guardant Health, Inc. (NASDAQ:GH) Given Average Recommendation of "Buy" by Brokerages

Guardant Health, Inc. (NASDAQ:GH - Get Free Report) has been given an average recommendation of "Buy" by the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. Twenty analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $48.95.

Several research analysts have weighed in on GH shares. Piper Sandler increased their target price on shares of Guardant Health from $34.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Scotiabank increased their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Canaccord Genuity Group boosted their target price on Guardant Health from $42.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on Guardant Health from $50.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Finally, Stephens reiterated an "overweight" rating and issued a $55.00 price objective on shares of Guardant Health in a report on Wednesday.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Guardant Health by 188.6% during the third quarter. Wellington Management Group LLP now owns 10,127,528 shares of the company's stock worth $232,325,000 after purchasing an additional 6,618,785 shares during the last quarter. Norges Bank acquired a new stake in shares of Guardant Health in the fourth quarter valued at approximately $36,438,000. Two Sigma Advisers LP grew its position in shares of Guardant Health by 96.7% during the fourth quarter. Two Sigma Advisers LP now owns 2,315,600 shares of the company's stock worth $70,742,000 after acquiring an additional 1,138,300 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Guardant Health during the 3rd quarter worth $21,389,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Guardant Health in the fourth quarter valued at about $26,673,000. 92.60% of the stock is owned by hedge funds and other institutional investors.

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Guardant Health Stock Performance

Shares of GH stock traded down $2.01 on Wednesday, hitting $43.14. 1,168,890 shares of the stock traded hands, compared to its average volume of 2,167,286. Guardant Health has a twelve month low of $15.81 and a twelve month high of $50.89. The stock has a market capitalization of $5.32 billion, a PE ratio of -12.12 and a beta of 1.50. The firm's 50-day moving average price is $44.66 and its two-hundred day moving average price is $34.30.

Guardant Health (NASDAQ:GH - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $201.81 million for the quarter, compared to analyst estimates of $192.50 million. On average, equities research analysts anticipate that Guardant Health will post -2.9 EPS for the current fiscal year.

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.