BTIG Research Reaffirms Buy Rating for Guardant Health (NASDAQ:GH)

Key Points

• BTIG Research reaffirmed a Buy rating on Guardant Health with a $195 price target, implying 18.61% upside from the reported $164.41 share price.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $183.78; 23 analysts rate the stock Buy, one Strong Buy, and one Sell.
• Guardant Health exceeded quarterly expectations, reporting adjusted EPS of -$0.42 versus the -$0.76 estimate and revenue of $334.98 million, up 44.3% year over year. However, insiders sold $81.2 million of stock over the past quarter.

Guardant Health (NASDAQ:GH - Get Free Report)'s stock had its "buy" rating reiterated by analysts at BTIG Research in a research report issued on Wednesday, Benzinga reports. They currently have a $195.00 target price on the stock. BTIG Research's price target would indicate a potential upside of 18.61% from the company's current price.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus upped their price objective on Guardant Health from $130.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Guardant Health in a research note on Friday, July 17th. Piper Sandler upped their price target on Guardant Health from $135.00 to $193.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. UBS Group set a $150.00 price objective on Guardant Health in a research note on Wednesday, June 24th. Finally, Citigroup lifted their price objective on Guardant Health from $150.00 to $215.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.78.

Guardant Health Stock Performance

NASDAQ:GH opened at $164.41 on Wednesday. The company has a 50-day moving average of $158.77 and a 200-day moving average of $121.64. Guardant Health has a 52 week low of $53.40 and a 52 week high of $176.58. The company has a market capitalization of $22.06 billion, a price-to-earnings ratio of -47.11 and a beta of 1.57.

Guardant Health (NASDAQ:GH - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.76) by $0.34. The business had revenue of $334.98 million during the quarter, compared to the consensus estimate of $314.23 million. The business's revenue was up 44.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.44) EPS. Sell-side analysts forecast that Guardant Health will post -2.98 EPS for the current year.

Insider Buying and Selling at Guardant Health

In other Guardant Health news, insider Chris Freeman sold 63,605 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $169.58, for a total transaction of $10,786,135.90. Following the sale, the insider owned 65,374 shares of the company's stock, valued at $11,086,122.92. This represents a 49.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Terilyn J. Monroe sold 46,300 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $165.12, for a total transaction of $7,645,056.00. Following the completion of the sale, the insider owned 22,979 shares of the company's stock, valued at $3,794,292.48. The trade was a 66.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 538,318 shares of company stock worth $81,232,073 over the last quarter. Corporate insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GH. Elyxium Wealth LLC bought a new position in Guardant Health in the 4th quarter valued at $35,000. Parallel Advisors LLC boosted its stake in Guardant Health by 164.7% in the fourth quarter. Parallel Advisors LLC now owns 352 shares of the company's stock valued at $36,000 after acquiring an additional 219 shares during the last quarter. Ascentis Independent Advisors bought a new position in Guardant Health in the first quarter valued at approximately $38,000. Hollencrest Capital Management acquired a new stake in Guardant Health during the 1st quarter worth $41,000. Finally, EFG International AG acquired a new stake in Guardant Health during the 4th quarter worth $41,000. 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.

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