Analyst Daniel Brennan from TD Cowen maintained a Buy rating on Guardant Health (GH – Research Report) and increased the price target to $56.00 from $42.00.
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Daniel Brennan has given his Buy rating due to a combination of factors that highlight Guardant Health’s positive outlook. The company’s management has provided optimistic guidance, forecasting a clinical volume growth of 25%, surpassing previous targets. Additionally, Guardant Health’s Q4 performance exceeded expectations, with sales beating preannouncements by 7%. This, along with a favorable ’25 sales outlook and potential upsides across various business segments, contributed to the positive rating.
Another key factor in Brennan’s Buy rating is the strong momentum in Guardant Health’s oncology business. The significant increase in G360 and Reveal volumes, along with strengthening prices, indicates robust growth potential. Moreover, the recent Medicare coverage for the Reveal MRD assay and the anticipated ADLT pricing status for Shield in 2025 are expected to further enhance revenue and market penetration. Consequently, the price target for Guardant Health has been raised from $42 to $56, reflecting the confidence in the company’s future performance.
Based on the recent corporate insider activity of 137 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GH in relation to earlier this year.