Guardant Health (NASDAQ:GH) Price Target Raised to $190.00 at BTIG Research

Guardant Health (NASDAQ:GH) had its price target hoisted by research analysts at BTIG Research from $160.00 to $190.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 14.02% from the stock’s previous close.

A number of other brokerages have also recently issued reports on GH. Guggenheim boosted their price objective on Guardant Health from $135.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Guardant Health in a report on Tuesday, April 21st. Evercore upgraded Guardant Health from an “in-line” rating to an “outperform” rating and set a $160.00 target price for the company in a research report on Tuesday, June 2nd. Barclays lifted their price target on Guardant Health from $120.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Guardant Health from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $146.18.

Guardant Health Stock Up 11.1%

Guardant Health stock traded up $16.61 during trading on Wednesday, hitting $166.64. The stock had a trading volume of 2,765,105 shares, compared to its average volume of 2,301,326. The stock’s 50 day moving average is $115.18 and its two-hundred day moving average is $104.71. Guardant Health has a 1 year low of $40.35 and a 1 year high of $165.32. The stock has a market cap of $22.10 billion, a price-to-earnings ratio of -48.92 and a beta of 1.61.

Insider Transactions at Guardant Health

In other Guardant Health news, Director Musa Tariq sold 1,951 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $131.16, for a total value of $255,893.16. Following the sale, the director directly owned 11,048 shares of the company’s stock, valued at approximately $1,449,055.68. The trade was a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Myrtle S. Potter sold 1,556 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $131.16, for a total transaction of $204,084.96. Following the completion of the transaction, the director owned 20,971 shares in the company, valued at approximately $2,750,556.36. The trade was a 6.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 712,513 shares of company stock worth $90,921,587. 5.60% of the stock is owned by insiders.

Institutional Trading of Guardant Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GH. World Investment Advisors bought a new position in Guardant Health in the fourth quarter worth approximately $1,664,000. Segall Bryant & Hamill LLC grew its position in shares of Guardant Health by 57.8% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 305,147 shares of the company’s stock worth $19,066,000 after buying an additional 111,822 shares in the last quarter. Algert Global LLC increased its stake in shares of Guardant Health by 169.1% during the third quarter. Algert Global LLC now owns 120,114 shares of the company’s stock valued at $7,505,000 after buying an additional 75,474 shares during the period. Iron Triangle Partners LP grew its holdings in Guardant Health by 33.3% during the 3rd quarter. Iron Triangle Partners LP now owns 400,000 shares of the company’s stock worth $24,992,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Capricorn Fund Managers Ltd increased its holdings in Guardant Health by 197.8% during the fourth quarter. Capricorn Fund Managers Ltd now owns 107,787 shares of the company’s stock valued at $11,009,000 after buying an additional 71,587 shares during the period. 92.60% of the stock is owned by hedge funds and other 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.