Guggenheim Forecasts Strong Price Appreciation for Guardant Health (NASDAQ:GH) Stock

Key Points

• Guggenheim raised its price target on Guardant Health from $160 to $190 and kept a buy rating, implying about 16.6% upside from the stock’s current price.
• Other analysts have also turned more bullish, including Bank of America and BTIG, both of which lifted their targets to $190. Overall, Guardant Health now has a consensus Moderate Buy rating with an average price target of $160.04.
• Shares opened at $162.96, near the stock’s 52-week high of $174.08, while insiders have been active sellers in recent weeks. CEO Amirali Talasaz and director Myrtle S. Potter both sold shares, and insiders have sold 708,565 shares over the last 90 days.

Guardant Health (NASDAQ:GH - Get Free Report) had its price target hoisted by equities researchers at Guggenheim from $160.00 to $190.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Guggenheim's price objective suggests a potential upside of 16.59% from the stock's current price.

GH has been the topic of several other reports. Bank of America raised their price objective on Guardant Health from $135.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 6th. BTIG Research upped their price target on shares of Guardant Health from $160.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. TD Cowen reaffirmed a "buy" rating on shares of Guardant Health in a report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on Guardant Health from $130.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Wolfe Research assumed coverage on shares of Guardant Health in a research note on Tuesday, June 2nd. They set an "outperform" rating and a $150.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $160.04.

Guardant Health Stock Performance

Shares of NASDAQ GH opened at $162.96 on Thursday. The company has a market cap of $21.61 billion, a P/E ratio of -48.07 and a beta of 1.59. Guardant Health has a 52-week low of $40.35 and a 52-week high of $174.08. The firm's fifty day moving average is $131.75 and its two-hundred day moving average is $109.58.

Insider Activity at Guardant Health

In other news, CEO Amirali Talasaz sold 143,028 shares of Guardant Health stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $151.54, for a total transaction of $21,674,463.12. Following the completion of the sale, the chief executive officer directly owned 1,881,336 shares in the company, valued at approximately $285,097,657.44. This trade represents a 7.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Myrtle S. Potter sold 1,556 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $131.16, for a total value of $204,084.96. Following the sale, the director owned 20,971 shares in the company, valued at approximately $2,750,556.36. This trade represents a 6.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 708,565 shares of company stock worth $90,556,597. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Guardant Health

Large investors have recently added to or reduced their stakes in the company. World Investment Advisors bought a new position in shares of Guardant Health during the 4th quarter worth approximately $1,664,000. Capricorn Fund Managers Ltd boosted its position in shares of Guardant Health by 197.8% during the 4th quarter. Capricorn Fund Managers Ltd now owns 107,787 shares of the company's stock valued at $11,009,000 after purchasing an additional 71,587 shares in the last quarter. F m Investments LLC lifted its stake in shares of Guardant Health by 24.1% in the fourth quarter. F m Investments LLC now owns 58,567 shares of the company's stock valued at $5,982,000 after buying an additional 11,363 shares in the last quarter. Legato Capital Management LLC lifted its position in shares of Guardant Health by 140.7% during the 4th quarter. Legato Capital Management LLC now owns 26,076 shares of the company's stock worth $2,663,000 after buying an additional 15,241 shares in the last quarter. Finally, Erste Asset Management GmbH raised its stake in shares of Guardant Health by 48.3% in the fourth quarter. Erste Asset Management GmbH now owns 1,045,917 shares of the company's stock valued at $106,781,000 after buying an additional 340,700 shares during the period. 92.60% of the stock is currently owned by institutional investors.

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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