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

Guardant Health (NASDAQ:GH) had its price objective reduced by Leerink Partners from $60.00 to $50.00 in a research note released on Thursday, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

A number of other analysts also recently issued reports on GH. Citigroup raised their target price on Guardant Health from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. TD Cowen raised their target price on Guardant Health from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Craig Hallum raised their target price on Guardant Health from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. The Goldman Sachs Group lifted their price target on Guardant Health from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Guggenheim upgraded Guardant Health from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.31.

Guardant Health Stock Performance

Shares of Guardant Health stock opened at $20.68 on Thursday. 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 business’s fifty day simple moving average is $24.76 and its 200 day simple moving average is $25.46. Guardant Health has a 12 month low of $15.81 and a 12 month high of $37.04. The firm has a market capitalization of $2.53 billion, a P/E ratio of -5.28 and a beta of 1.11.

Guardant Health (NASDAQ:GH) last released its earnings results on Wednesday, August 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.10). Guardant Health had a negative return on equity of 418.21% and a negative net margin of 76.23%. The firm had revenue of $177.24 million during the quarter, compared to analysts’ expectations of $162.59 million. During the same period in the prior year, the business earned ($0.67) earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, analysts anticipate that Guardant Health will post -3.31 EPS for the current year.

Hedge Funds Weigh In On Guardant Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GH. Quarry LP bought a new stake in Guardant Health during the second quarter worth about $44,000. Canton Hathaway LLC bought a new stake in Guardant Health during the second quarter worth about $59,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Guardant Health during the second quarter worth about $71,000. Byrne Asset Management LLC bought a new stake in Guardant Health during the second quarter worth about $77,000. Finally, Manchester Capital Management LLC bought a new stake in Guardant Health during the first quarter worth about $57,000. 92.60% of the stock is currently owned by hedge funds and other institutional investors.

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.