Guardant Health (NASDAQ:GH) Shares Gap Up Following Analyst Upgrade

Shares of Guardant Health, Inc. (NASDAQ:GH - Get Free Report) gapped up before the market opened on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $48.00 to $50.00. The stock had previously closed at $25.29, but opened at $32.39. JPMorgan Chase & Co. currently has an overweight rating on the stock. Guardant Health shares last traded at $30.44, with a volume of 1,366,838 shares traded.

GH has been the topic of several other research reports. 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. The Goldman Sachs Group boosted their price target on Guardant Health from $32.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday. TD Cowen boosted their price target on Guardant Health from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Piper Sandler boosted their price target on Guardant Health from $30.00 to $34.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. Finally, Sanford C. Bernstein dropped their price target on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.35.

Institutional Investors Weigh In On Guardant Health

Large investors have recently made changes to their positions in the stock. JNBA Financial Advisors purchased a new stake in shares of Guardant Health in the third quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in shares of Guardant Health in the third quarter valued at approximately $34,000. Quarry LP purchased a new position in Guardant Health in the second quarter worth approximately $44,000. Manchester Capital Management LLC purchased a new position in Guardant Health in the first quarter worth approximately $57,000. Finally, Canton Hathaway LLC purchased a new position in Guardant Health in the second quarter worth approximately $59,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

Guardant Health Stock Up 13.0 %

The company has a market capitalization of $3.52 billion, a PE ratio of -6.99 and a beta of 1.11. The company has a quick ratio of 6.07, a current ratio of 6.40 and a debt-to-equity ratio of 16.70. The firm has a 50-day moving average of $23.07 and a two-hundred day moving average of $25.90.

Guardant Health (NASDAQ:GH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.10). The business had revenue of $177.24 million during the quarter, compared to analysts' expectations of $162.59 million. Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The company's revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.67) earnings per share. Equities research analysts predict that Guardant Health, Inc. will post -3.31 earnings per share 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.