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

Guardant Health (NASDAQ:GH) had its price objective lowered by stock analysts at Canaccord Genuity Group from $45.00 to $30.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 66.67% from the company’s current price.

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

Guardant Health Trading Down 1.0 %

Shares of GH stock opened at $18.00 on Monday. The firm has a market capitalization of $2.19 billion, a PE ratio of -4.21 and a beta of 0.87. 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 fifty day moving average of $18.65 and a two-hundred day moving average of $22.75.

Guardant Health (NASDAQ:GH) last announced its earnings results on Thursday, February 22nd. The company reported ($1.58) earnings per share (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 the consensus estimate of $151.71 million. As a group, research analysts expect that Guardant Health will post -3.49 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kumud Kalia purchased 2,187 shares of Guardant Health stock in a transaction that occurred on Monday, March 18th. The stock was acquired at an average price of $17.82 per share, for a total transaction of $38,972.34. Following the transaction, the insider now owns 12,722 shares in the company, valued at $226,706.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CWM LLC increased its stake in Guardant Health by 137.1% in the 3rd quarter. CWM LLC now owns 984 shares of the company’s stock valued at $29,000 after buying an additional 569 shares during the period. BluePath Capital Management LLC purchased a new position in shares of Guardant Health during the 3rd quarter valued at $35,000. Headlands Technologies LLC increased its stake in shares of Guardant Health by 362.3% in the fourth quarter. Headlands Technologies LLC now owns 2,353 shares of the company’s stock worth $64,000 after acquiring an additional 1,844 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Guardant Health by 29.4% during the fourth quarter. Van ECK Associates Corp now owns 2,702 shares of the company’s stock worth $73,000 after acquiring an additional 614 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Guardant Health by 26.1% during the third quarter. Nisa Investment Advisors LLC now owns 3,450 shares of the company’s stock valued at $102,000 after purchasing an additional 713 shares during the last quarter. 92.60% of the stock is owned by institutional investors and hedge funds.

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.