Leerink Partners Lowers Guardant Health (NASDAQ:GH) Price Target to $50.00

Guardant Health (NASDAQ:GH) had its price target lowered by stock analysts at Leerink Partners from $60.00 to $50.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective indicates a potential upside of 133.86% from the stock’s current price.

GH has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of Guardant Health from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. UBS Group raised their price objective on shares of Guardant Health from $32.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America raised their price objective on shares of Guardant Health from $28.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. BTIG Research raised their price objective on shares of Guardant Health from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their price objective on shares of Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.31.

Guardant Health Price Performance

Shares of GH opened at $21.38 on Thursday. Guardant Health has a 1-year low of $15.81 and a 1-year high of $37.04. The stock has a market cap of $2.62 billion, a PE ratio of -5.43 and a beta of 1.11. The firm has a 50-day simple moving average of $24.76 and a two-hundred day simple moving average of $25.46. The company has a debt-to-equity ratio of 16.70, a current ratio of 6.40 and a quick ratio of 6.07.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings results 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). Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The company had revenue of $177.24 million for the quarter, compared to analyst estimates of $162.59 million. During the same quarter in the prior year, the business earned ($0.67) earnings per share. Guardant Health’s revenue was up 29.2% on a year-over-year basis. As a group, analysts forecast that Guardant Health will post -3.31 EPS for the current year.

Institutional Trading of Guardant Health

Several institutional investors have recently modified their holdings of GH. Oak Ridge Investments LLC increased its holdings in shares of Guardant Health by 8.5% in the 1st quarter. Oak Ridge Investments LLC now owns 18,540 shares of the company’s stock valued at $382,000 after acquiring an additional 1,451 shares during the period. Quarry LP acquired a new position in shares of Guardant Health in the 2nd quarter valued at $44,000. Green Alpha Advisors LLC increased its holdings in shares of Guardant Health by 23.6% in the 3rd quarter. Green Alpha Advisors LLC now owns 8,782 shares of the company’s stock valued at $201,000 after acquiring an additional 1,674 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of Guardant Health by 4.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 41,450 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,800 shares during the period. Finally, Canton Hathaway LLC acquired a new position in shares of Guardant Health in the 2nd quarter valued at $59,000. 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.