Guggenheim Upgrades Guardant Health (NASDAQ:GH) to Buy

Guardant Health (NASDAQ:GH) was upgraded by research analysts at Guggenheim from a “neutral” rating to a “buy” rating in a report released on Friday, Marketbeat reports. The firm currently has a $36.00 target price on the stock. Guggenheim’s price target indicates a potential upside of 24.65% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, April 15th. Craig Hallum assumed coverage on shares of Guardant Health in a research note on Wednesday, April 24th. They issued a “buy” rating and a $28.00 target price for the company. Canaccord Genuity Group increased their price target on shares of Guardant Health from $30.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Stephens reaffirmed an “overweight” rating and issued a $44.00 price objective on shares of Guardant Health in a research note on Friday, May 24th. Finally, Jefferies Financial Group began coverage on shares of Guardant Health in a research report on Monday, June 3rd. They set a “buy” rating and a $32.00 target price on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Guardant Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.83.

Guardant Health Stock Performance

Shares of GH stock opened at $28.88 on Friday. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -7.37 and a beta of 1.15. Guardant Health has a 1-year low of $15.81 and a 1-year high of $41.06. The company has a current ratio of 5.95, a quick ratio of 5.66 and a debt-to-equity ratio of 16.70. The stock’s fifty day simple moving average is $24.98 and its 200-day simple moving average is $22.98.

Guardant Health (NASDAQ:GH) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.94) EPS for the quarter, hitting analysts’ consensus estimates of ($0.94). The firm had revenue of $168.49 million during the quarter, compared to analyst estimates of $150.51 million. Guardant Health had a negative return on equity of 246.47% and a negative net margin of 76.34%. On average, sell-side analysts predict that Guardant Health will post -3.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Guardant Health

Several large investors have recently bought and sold shares of the stock. Headlands Technologies LLC grew its holdings in shares of Guardant Health by 362.3% during the 4th quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after purchasing an additional 1,844 shares in the last quarter. Van ECK Associates Corp lifted its position in Guardant Health by 29.4% in the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock worth $73,000 after purchasing an additional 614 shares during the period. Manchester Capital Management LLC acquired a new stake in Guardant Health during the first quarter worth $57,000. EntryPoint Capital LLC acquired a new position in shares of Guardant Health in the 1st quarter valued at $75,000. Finally, AXQ Capital LP bought a new position in shares of Guardant Health during the 3rd quarter worth about $202,000. 92.60% of the stock is currently owned by institutional investors and hedge funds.

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.