On July 9, Guardant Health rose 5.21% in regular trading, trading at $169.07/share, with turnover of $130 million. The move was driven by BofA Securities significantly raising its price target on the stock from $135 to $190 while maintaining a Buy rating.
The upgrade reflects a series of fundamental catalysts. The company has secured multiple FDA approvals in recent months, including Guardant360 Liquid CDx as a companion diagnostic for non-small cell lung cancer and colorectal cancer therapies, and Guardant360 CDx for HER2-mutant advanced NSCLC. Its Shield blood test was also included in the American Cancer Society's updated Colorectal Cancer Screening guidelines. Q1 revenue of $301.7 million beat the $279.2 million consensus estimate, while adjusted EPS of -$0.45 significantly outperformed the -$0.76 estimate. Full-year revenue guidance was raised to $1.30-1.32 billion, above the prior FactSet estimate of $1.27 billion. RBC Capital Markets and Evercore ISI have also initiated or upgraded coverage with bullish targets, citing the underpenetration of genomic profiling as a key growth opportunity.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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