Guardant Health (NASDAQ:GH) Price Target Raised to $190.00

Guardant Health (NASDAQ:GH) had its price target increased by analysts at BTIG Research from $160.00 to $190.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s target price would suggest a potential upside of 14.02% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada started coverage on Guardant Health in a research report on Thursday, June 11th. They set an “outperform” rating and a $185.00 price target on the stock. UBS Group set a $150.00 target price on Guardant Health in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price target on Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Mizuho boosted their price target on Guardant Health from $135.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Finally, Evercore raised shares of Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $146.18.

Guardant Health Stock Up 11.1%

Shares of NASDAQ GH traded up $16.61 during trading hours on Wednesday, hitting $166.64. 2,765,105 shares of the stock were exchanged, compared to its average volume of 2,301,326. Guardant Health has a 12 month low of $40.35 and a 12 month high of $165.32. The firm has a fifty day moving average price of $115.18 and a 200-day moving average price of $104.71. The company has a market cap of $22.10 billion, a PE ratio of -48.92 and a beta of 1.61.

Insider Activity

In other Guardant Health news, CEO Helmy Eltoukhy sold 100,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $126.30, for a total value of $12,630,000.00. Following the completion of the transaction, the chief executive officer owned 2,012,919 shares in the company, valued at approximately $254,231,669.70. This represents a 4.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myrtle S. Potter sold 1,556 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the sale, the director directly owned 20,971 shares in the company, valued at approximately $2,750,556.36. The trade was a 6.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 712,513 shares of company stock valued at $90,921,587 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Guardant Health

A number of hedge funds have recently bought and sold shares of GH. Allworth Financial LP grew its holdings in Guardant Health by 19.5% in the third quarter. Allworth Financial LP now owns 844 shares of the company’s stock valued at $53,000 after purchasing an additional 138 shares during the period. Eastern Bank raised its stake in shares of Guardant Health by 6.9% during the 4th quarter. Eastern Bank now owns 2,160 shares of the company’s stock worth $221,000 after buying an additional 139 shares during the period. First Pacific Financial lifted its position in shares of Guardant Health by 33.1% during the 1st quarter. First Pacific Financial now owns 559 shares of the company’s stock valued at $52,000 after buying an additional 139 shares in the last quarter. Xponance LLC lifted its holdings in Guardant Health by 2.1% during the fourth quarter. Xponance LLC now owns 9,630 shares of the company’s stock valued at $984,000 after purchasing an additional 199 shares in the last quarter. Finally, Danske Bank A S raised its holdings in shares of Guardant Health by 20.0% during the fourth quarter. Danske Bank A S now owns 1,200 shares of the company’s stock valued at $123,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 92.60% of the company’s stock.

Guardant Health Company Profile

Guardant Health, Inc is a precision oncology company specializing in blood-based cancer diagnostics. Founded in 2012 and headquartered in Redwood City, California, the company develops non-invasive tests that use circulating tumor DNA (ctDNA) to profile genomic alterations in patients with solid tumors. Guardant Health’s mission is to advance cancer care by providing actionable data to clinicians, pharmaceutical partners and researchers worldwide.

The company’s flagship product, Guardant360, is a next-generation sequencing (NGS) assay designed to detect mutations, copy number variations and select fusions in more than 70 cancer-related genes.