Guardant Health (NASDAQ:GH) Price Target Raised to $50.00 at Piper Sandler

Guardant Health (NASDAQ:GH - Get Free Report) had its target price hoisted by equities research analysts at Piper Sandler from $34.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective indicates a potential upside of 17.51% from the company's current price.

Several other equities research analysts have also recently issued reports on GH. Guggenheim reiterated a "buy" rating and issued a $56.00 price objective on shares of Guardant Health in a report on Monday, February 24th. Scotiabank boosted their target price on Guardant Health from $47.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Monday, February 24th. The Goldman Sachs Group boosted their target price on Guardant Health from $49.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Canaccord Genuity Group boosted their target price on Guardant Health from $42.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Finally, Sanford C. Bernstein lowered their target price on Guardant Health from $40.00 to $35.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Nineteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $48.21.

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Guardant Health Price Performance

GH stock traded up $0.44 during trading on Wednesday, hitting $42.55. The stock had a trading volume of 1,488,593 shares, compared to its average volume of 2,513,654. 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 $5.25 billion, a P/E ratio of -11.95 and a beta of 1.32. The company's 50-day moving average price is $41.09 and its two-hundred day moving average price is $32.01.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.90) earnings per share (EPS) 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 firm had revenue of $201.81 million during the quarter, compared to analyst estimates of $192.50 million. As a group, sell-side analysts expect that Guardant Health will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at Guardant Health

In other news, Director Musa Tariq sold 2,320 shares of the company's stock in a transaction 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 sale, the director now owns 2,676 shares of the company's stock, valued at approximately $93,660. This represents a 46.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 2,768 shares of company stock valued at $98,798 over the last quarter. 5.50% of the stock is owned by company insiders.

Institutional Trading of Guardant Health

A number of large investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Guardant Health by 13.5% during the fourth quarter. NewEdge Advisors LLC now owns 1,929 shares of the company's stock worth $59,000 after acquiring an additional 230 shares during the period. Summit Investment Advisors Inc. grew its stake in shares of Guardant Health by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 12,346 shares of the company's stock worth $377,000 after purchasing an additional 391 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Guardant Health by 1.1% during the fourth quarter. Arizona State Retirement System now owns 35,639 shares of the company's stock worth $1,089,000 after purchasing an additional 403 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Guardant Health by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,449 shares of the company's stock worth $102,000 after purchasing an additional 796 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Guardant Health by 43.5% during the fourth quarter. Jones Financial Companies Lllp now owns 2,696 shares of the company's stock worth $82,000 after purchasing an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 92.60% of the company's stock.

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.