Guardant Health (NASDAQ:GH) Price Target Lowered to $60.00 at Canaccord Genuity Group

Guardant Health logoGuardant Health (NASDAQ:GH – Get Rating) had its price target dropped by equity research analysts at Canaccord Genuity Group from $65.00 to $60.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 107.76% from the stock’s previous close.

Other equity analysts have also issued reports about the company. JPMorgan Chase & Co. lowered their target price on Guardant Health from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Friday. Stephens reaffirmed an “overweight” rating and set a $63.00 target price on shares of Guardant Health in a report on Thursday, February 16th. BTIG Research lowered their target price on Guardant Health from $80.00 to $60.00 in a report on Friday, December 16th. Citigroup lowered their target price on Guardant Health from $80.00 to $60.00 in a report on Friday, December 16th. Finally, Cowen decreased their price objective on Guardant Health from $70.00 to $53.00 and set an “outperform” rating for the company in a report on Friday. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Guardant Health currently has an average rating of “Moderate Buy” and an average price target of $61.14.

Guardant Health Stock Up 11.7 %

NASDAQ:GH opened at $28.88 on Friday. The firm has a market capitalization of $2.96 billion, a PE ratio of -4.51 and a beta of 0.86. The stock has a 50 day moving average of $29.30 and a 200-day moving average of $43.05. Guardant Health has a 52 week low of $24.63 and a 52 week high of $77.72. The company has a current ratio of 6.46, a quick ratio of 6.10 and a debt-to-equity ratio of 6.82.

Hedge Funds Weigh In On Guardant Health

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The California Public Employees Retirement System lifted its position in shares of Guardant Health by 24.8% during the 3rd quarter. California Public Employees Retirement System now owns 200,607 shares of the company’s stock valued at $10,799,000 after acquiring an additional 39,829 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in shares of Guardant Health during the 3rd quarter valued at $213,000. Swiss National Bank lifted its position in shares of Guardant Health by 5.7% during the 2nd quarter. Swiss National Bank now owns 216,000 shares of the company’s stock valued at $8,713,000 after acquiring an additional 11,700 shares during the last quarter. International Biotechnology Trust PLC lifted its position in shares of Guardant Health by 2,379.2% during the 3rd quarter. International Biotechnology Trust PLC now owns 74,500 shares of the company’s stock valued at $4,004,000 after acquiring an additional 71,495 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Guardant Health by 10.2% during the 2nd quarter. Xponance Inc. now owns 11,370 shares of the company’s stock valued at $459,000 after acquiring an additional 1,051 shares during the last quarter. 90.43% of the stock is owned by institutional investors.

About Guardant Health

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Guardant Health, Inc. is a precision oncology company engaged in the treatment of cancer through the use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.

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