Canaccord Genuity Group Cuts Guardant Health (NASDAQ:GH) Price Target to $30.00

Guardant Health (NASDAQ:GH) had its price target lowered by stock analysts at Canaccord Genuity Group from $45.00 to $30.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 64.93% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Craig Hallum assumed coverage on Guardant Health in a report on Wednesday, April 24th. They set a “buy” rating and a $28.00 price target on the stock. The Goldman Sachs Group decreased their price target on Guardant Health from $32.00 to $28.00 and set a “buy” rating for the company in a report on Monday, April 15th. JPMorgan Chase & Co. cut their price objective on shares of Guardant Health from $60.00 to $45.00 and set an “overweight” rating for the company in a research report on Friday, February 23rd. Piper Sandler lowered their price objective on Guardant Health from $40.00 to $30.00 and set an “overweight” rating on the stock in a report on Monday, February 26th. Finally, Guggenheim reissued a “neutral” rating on shares of Guardant Health in a report on Friday, April 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.91.

Guardant Health Stock Up 4.8 %

NASDAQ GH traded up $0.84 during trading on Monday, reaching $18.19. 202,451 shares of the company’s stock were exchanged, compared to its average volume of 1,859,625. The company has a debt-to-equity ratio of 7.18, a quick ratio of 6.24 and a current ratio of 6.54. Guardant Health has a 1 year low of $15.81 and a 1 year high of $41.06. The stock has a market cap of $2.21 billion, a P/E ratio of -4.23 and a beta of 0.87. The company has a 50 day moving average price of $18.74 and a two-hundred day moving average price of $22.80.

Guardant Health (NASDAQ:GH) last posted its earnings results on Thursday, February 22nd. The company reported ($1.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.65). Guardant Health had a negative net margin of 85.02% and a negative return on equity of 301.94%. The company had revenue of $155.05 million during the quarter, compared to analysts’ expectations of $151.71 million. On average, equities research analysts anticipate that Guardant Health will post -3.49 EPS for the current fiscal year.

Insider Transactions at Guardant Health

In other Guardant Health news, insider Kumud Kalia acquired 2,187 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $17.82 per share, with a total value of $38,972.34. Following the completion of the transaction, the insider now owns 12,722 shares in the company, valued at $226,706.04. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 6.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Guardant Health

Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. grew its position in shares of Guardant Health by 2.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,854 shares of the company’s stock worth $500,000 after buying an additional 453 shares during the period. Amalgamated Bank increased its position in Guardant Health by 3.2% during the 3rd quarter. Amalgamated Bank now owns 17,058 shares of the company’s stock valued at $506,000 after purchasing an additional 521 shares during the period. CWM LLC boosted its position in shares of Guardant Health by 137.1% during the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after purchasing an additional 569 shares in the last quarter. Van ECK Associates Corp grew its holdings 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. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Guardant Health by 2.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 32,238 shares of the company’s stock worth $956,000 after purchasing an additional 670 shares during the period. Institutional investors own 92.60% of the company’s stock.

About Guardant Health

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.