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

Shares of Guardant Health, Inc. (NASDAQ:GH) 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.

Several other equities analysts have also weighed in on the stock. Leerink Partners cut their price objective on shares of Guardant Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. The Goldman Sachs Group increased their price objective on shares of Guardant Health from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday. TD Cowen increased their price objective on shares of Guardant Health from $41.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Craig Hallum increased their price objective on shares of Guardant Health from $28.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Citigroup increased 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. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Institutional Investors Weigh In On Guardant Health

Several large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. grew its position in Guardant Health by 1,282.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,226,176 shares of the company’s stock valued at $28,128,000 after purchasing an additional 1,137,482 shares in the last quarter. ARK Investment Management LLC grew its position in Guardant Health by 233.5% in the third quarter. ARK Investment Management LLC now owns 1,512,694 shares of the company’s stock valued at $34,701,000 after purchasing an additional 1,059,104 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp bought a new position in Guardant Health in the first quarter valued at $8,300,000. Bank of New York Mellon Corp grew its position in Guardant Health by 31.8% in the second quarter. Bank of New York Mellon Corp now owns 1,280,221 shares of the company’s stock valued at $36,973,000 after purchasing an additional 309,157 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Guardant Health by 2.7% in the first quarter. Vanguard Group Inc. now owns 11,436,026 shares of the company’s stock valued at $235,925,000 after purchasing an additional 305,372 shares in the last quarter. Institutional investors own 92.60% of the company’s stock.

Guardant Health Trading Up 0.1 %

The firm has a market cap of $3.52 billion, a P/E ratio of -7.00 and a beta of 1.11. The business’s 50-day moving average is $23.13 and its two-hundred day moving average is $25.98. 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 released its 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). The business had revenue of $177.24 million during the quarter, compared to the consensus estimate of $162.59 million. Guardant Health had a negative net margin of 76.23% and a negative return on equity of 418.21%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period last year, the business posted ($0.67) EPS. As a group, analysts predict that Guardant Health, Inc. will post -3.31 earnings per share for the current fiscal year.

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.