Guardant Health (NASDAQ:GH) Price Target Raised to $195.00 at JPMorgan Chase & Co.

Guardant Health (NASDAQ:GHFree Report) had its target price boosted by JPMorgan Chase & Co. from $185.00 to $195.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Mizuho boosted their price objective on Guardant Health from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a research report on Friday, July 17th. Bank of America raised their price target on shares of Guardant Health from $135.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Stifel Nicolaus set a $180.00 price objective on Guardant Health in a report on Friday. Finally, Piper Sandler set a $127.00 target price on Guardant Health in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $179.82.

View Our Latest Stock Analysis on GH

Guardant Health Price Performance

GH stock opened at $161.99 on Friday. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of -46.42 and a beta of 1.59. The company has a 50-day moving average of $143.44 and a two-hundred day moving average of $113.38. Guardant Health has a 52-week low of $40.35 and a 52-week high of $176.58.

Insider Activity

In other news, insider Chris Freeman sold 24,406 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $118.67, for a total transaction of $2,896,260.02. Following the completion of the sale, the insider owned 60,034 shares of the company’s stock, valued at approximately $7,124,234.78. This trade represents a 28.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amirali Talasaz sold 210,000 shares of Guardant Health stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $109.89, for a total transaction of $23,076,900.00. Following the completion of the transaction, the chief executive officer owned 1,886,504 shares of the company’s stock, valued at $207,307,924.56. This trade represents a 10.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 708,565 shares of company stock worth $90,556,597 over the last ninety days. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GH. Alyeska Investment Group L.P. acquired a new stake in Guardant Health during the 3rd quarter valued at $114,421,000. Price T Rowe Associates Inc. MD boosted its stake in Guardant Health by 33.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,636,078 shares of the company’s stock worth $575,670,000 after purchasing an additional 1,414,441 shares in the last quarter. Norges Bank acquired a new position in Guardant Health in the fourth quarter worth $128,499,000. Summit Partners Public Asset Management LLC boosted its stake in Guardant Health by 674.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 851,958 shares of the company’s stock worth $87,019,000 after purchasing an additional 741,958 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Guardant Health by 89.6% during the first quarter. The Manufacturers Life Insurance Company now owns 1,205,701 shares of the company’s stock worth $111,371,000 after purchasing an additional 569,766 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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Guardant Health Company Profile

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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.

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