Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Guardant Health (NASDAQ:GH - Get Free Report) had its price target lifted by Morgan Stanley from $42.00 to $52.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 42.67% from the company's current price.

Other equities analysts have also issued reports about the stock. Barclays began coverage on shares of Guardant Health in a report on Thursday, January 23rd. They issued an "overweight" rating and a $60.00 price target on the stock. Canaccord Genuity Group upped 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. The Goldman Sachs Group raised their price target on Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Scotiabank upped their price objective on shares of Guardant Health from $47.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, February 24th. Finally, Stifel Nicolaus lifted their target price on shares of Guardant Health from $45.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Twenty analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $48.40.

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Guardant Health Price Performance

Shares of NASDAQ:GH traded down $2.87 during trading hours on Thursday, hitting $36.45. The company's stock had a trading volume of 52,710 shares, compared to its average volume of 2,108,108. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of -10.34 and a beta of 1.50. The firm's fifty day moving average price is $42.06 and its 200 day moving average price is $32.46. Guardant Health has a 52 week low of $15.81 and a 52 week high of $50.89.

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). The company had revenue of $201.81 million during the quarter, compared to analysts' expectations of $192.50 million. Guardant Health had a negative net margin of 59.05% and a negative return on equity of 19,157.20%. On average, equities research analysts predict that Guardant Health will post -2.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 2,320 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $35.00, for a total transaction of $81,200.00. Following the transaction, the director now owns 2,676 shares in the company, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 2,668 shares of company stock valued at $95,208. 5.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. JNBA Financial Advisors purchased a new position in Guardant Health during the third quarter valued at $26,000. R Squared Ltd acquired a new stake in Guardant Health in the 4th quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new stake in Guardant Health during the 3rd quarter worth approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in Guardant Health during the 4th quarter worth approximately $43,000. Finally, Kimelman & Baird LLC acquired a new position in shares of Guardant Health during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 92.60% of the company's stock.

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.