Guardant Health (GH) Upgraded to Buy by Bank of America

Bank of America upgraded shares of Guardant Health (NASDAQ:GH) from a neutral rating to a buy rating in a research report sent to investors on Wednesday, April 10th, Stock Target Advisor reports. Bank of America currently has $84.00 price target on the stock.

A number of other brokerages have also recently weighed in on GH. Zacks Investment Research cut shares of Guardant Health from a hold rating to a sell rating in a research note on Monday, March 18th. William Blair reissued an outperform rating on shares of Guardant Health in a research note on Wednesday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Guardant Health from $42.00 to $85.00 and gave the stock an overweight rating in a research note on Wednesday, March 13th. Finally, Cowen raised their price objective on shares of Guardant Health from $40.00 to $70.00 and gave the stock an outperform rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $82.25.

Guardant Health stock traded up $2.69 during mid-day trading on Wednesday, reaching $69.02. The company had a trading volume of 679,329 shares, compared to its average volume of 957,712. Guardant Health has a 1 year low of $27.04 and a 1 year high of $106.58. The stock has a market cap of $6.00 billion and a PE ratio of -24.65.

Guardant Health (NASDAQ:GH) last issued its earnings results on Tuesday, March 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.05. The company had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $24.57 million. On average, research analysts predict that Guardant Health will post -1.5 earnings per share for the current fiscal year.

In other news, major shareholder Vision Fund (Aiv M1) Softbank bought 2,033,990 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were purchased at an average price of $9.83 per share, for a total transaction of $19,994,121.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian T. Clark sold 2,690 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $65.91, for a total transaction of $177,297.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 796,426 shares of company stock worth $54,187,481.

A number of hedge funds and other institutional investors have recently made changes to their positions in GH. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at $26,000. Mascoma Wealth Management LLC acquired a new position in shares of Guardant Health in the 1st quarter valued at $54,000. Legal & General Group Plc acquired a new position in shares of Guardant Health in the 4th quarter valued at $85,000. Citigroup Inc. acquired a new position in shares of Guardant Health in the 4th quarter valued at $94,000. Finally, SG Americas Securities LLC acquired a new position in shares of Guardant Health in the 1st quarter valued at $108,000. Hedge funds and other institutional investors own 69.49% of the company’s stock.

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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Analyst Recommendations for Guardant Health (NASDAQ:GH)

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