JPMorgan Chase & Co. Raises Guardant Health (NASDAQ:GH) Price Target to $135.00

Guardant Health (NASDAQ:GH) had its target price lifted by JPMorgan Chase & Co. from $90.00 to $135.00 in a research note published on Wednesday morning, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

GH has been the topic of a number of other research reports. Bank of America raised shares of Guardant Health from a neutral rating to a buy rating and set a $84.00 price target on the stock in a research report on Wednesday, April 10th. Canaccord Genuity started coverage on shares of Guardant Health in a research note on Tuesday, April 16th. They issued a buy rating and a $90.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Guardant Health from a hold rating to a buy rating and set a $105.00 price objective on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $111.80.

Shares of GH opened at $103.08 on Wednesday. The company has a market capitalization of $9.61 billion and a price-to-earnings ratio of -36.81. The company’s 50 day simple moving average is $90.79. Guardant Health has a twelve month low of $27.04 and a twelve month high of $112.21.

Guardant Health (NASDAQ:GH) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.21. Guardant Health had a negative net margin of 60.08% and a negative return on equity of 22.93%. The firm had revenue of $53.98 million for the quarter, compared to analyst estimates of $35.97 million. During the same quarter last year, the firm earned ($1.75) earnings per share. The company’s revenue for the quarter was up 178.5% on a year-over-year basis. Analysts anticipate that Guardant Health will post -1.27 earnings per share for the current fiscal year.

In other news, insider Richard B. Lanman sold 1,690 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $80.00, for a total value of $135,200.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Helmy Eltoukhy sold 78,660 shares of Guardant Health stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $72.34, for a total value of $5,690,264.40. The disclosure for this sale can be found here. Insiders sold a total of 90,033 shares of company stock worth $6,694,514 in the last 90 days. 13.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in GH. Jennison Associates LLC raised its holdings in shares of Guardant Health by 301.7% in the second quarter. Jennison Associates LLC now owns 2,753,535 shares of the company’s stock valued at $237,713,000 after buying an additional 2,068,098 shares during the last quarter. FMR LLC bought a new stake in Guardant Health during the 4th quarter worth about $13,612,000. Geode Capital Management LLC bought a new stake in Guardant Health during the 4th quarter worth about $8,278,000. Nikko Asset Management Americas Inc. bought a new stake in Guardant Health during the 2nd quarter worth about $18,167,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Guardant Health during the 2nd quarter worth about $18,167,000. 69.84% of the stock is owned by institutional investors and hedge funds.

Guardant Health Company Profile

Guardant Health, Inc, a precision oncology company, provides blood tests, data sets, and analytics in the United States and internationally. The company offers liquid biopsy tests for advanced stage cancer, such as Guardant360, a molecular diagnostic test that measures various cancer-related genes; and GuardantOMNI, a broader gene panel, including genes associated with homologous recombination repair deficiency and biomarkers for immuno-oncology applications.

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