Guardant Health (NASDAQ:GH) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Guardant Health (NASDAQ:GH - Free Report) had its price target lifted by JPMorgan Chase & Co. from $48.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on GH. Leerink Partners lowered their price objective on Guardant Health from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 17th. Bank of America increased their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, July 18th. Citigroup raised their price objective on shares of Guardant Health from $40.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, August 8th. UBS Group boosted their target price on shares of Guardant Health from $32.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Finally, Craig Hallum raised their price target on Guardant Health from $28.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.35.

Guardant Health Trading Up 13.0 %

Guardant Health stock traded up $3.30 during midday trading on Thursday, reaching $28.59. 5,658,201 shares of the stock traded hands, compared to its average volume of 2,066,351. The company has a current ratio of 6.40, a quick ratio of 6.07 and a debt-to-equity ratio of 16.70. The firm has a market cap of $3.52 billion, a PE ratio of -6.99 and a beta of 1.11. The company has a 50-day simple moving average of $23.07 and a two-hundred day simple moving average of $25.90. Guardant Health has a 12-month low of $15.81 and a 12-month high of $37.04.

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

Hedge Funds Weigh In On Guardant Health

Several institutional investors have recently added to or reduced their stakes in the stock. JNBA Financial Advisors purchased a new position in Guardant Health during the third quarter worth about $26,000. Ashton Thomas Securities LLC purchased a new position in shares of Guardant Health during the 3rd quarter worth approximately $34,000. Quarry LP acquired a new stake in shares of Guardant Health in the 2nd quarter valued at approximately $44,000. Canton Hathaway LLC acquired a new stake in shares of Guardant Health in the 2nd quarter valued at approximately $59,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Guardant Health in the second quarter valued at approximately $71,000. Institutional investors and hedge funds 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.