Guardant Health Inc (GH) Receives a Rating Update from a Top Analyst

Canaccord Genuity analyst Mark Massaro maintained a Buy rating on Guardant Health Inc (GHResearch Report) today and set a price target of $125. The company’s shares closed last Monday at $80.71.

Massaro wrote:

“We recently had the privilege of hosting Guardant Health co-founder and CEO Helmy Eltoukhy and CFO a well-attended fireside chat at the 39th in Boston. Guardant ranks among the top of our favorite companies in our coverage universe. Despite some recent weakness in shares, we would be buyers on the dip, and reiterate our BUY rating and $125 PT on the stock. Really early days, and an enormous market. GH estimates its market penetration for its flagship G360 liquid biopsy test is only in the mid-single digits of market penetration, and estimates that fewer than 15% of patients receive any comprehensive genomic profiling (CGP) with a tissue or with a blood sample, and bears a total US TAM north of $50 billion. TAM expansion and “compound innovation”.”

According to TipRanks.com, Massaro is a top 100 analyst with an average return of 21.4% and a 63.6% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc, and Castle Biosciences Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Guardant Health Inc with a $113.33 average price target.

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Based on Guardant Health Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.6 million. In comparison, last year the company had a GAAP net loss of $21.64 million.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GH in relation to earlier this year.

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Guardant Health, Inc. is a precision oncology company, which engages in provision of precision oncology testing and development services. It focuses performing blood tests, vast data sets, and advanced analytics to conquer cancer. The company was founded by Helmy Eltoukhy and AmirAli H. Talasaz in 2012 and is headquartered in Redwood City, CA.