In a report released yesterday, Michael Ryskin from Bank of America Securities maintained a Buy rating on Guardant Health, with a price target of $65.00.
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Michael Ryskin has given his Buy rating due to a combination of factors despite the recent data release not meeting expectations. Guardant Health’s Shield V2 test showed only a minor improvement in sensitivity compared to its predecessor, Shield V1. However, Ryskin maintains a positive outlook on the company’s stock, attributing this to Guardant Health’s strong position in the liquid biopsy market and its comprehensive portfolio.
Although the Shield V2 data was somewhat disappointing, Ryskin believes that Guardant Health’s leadership in the industry and its potential for future advancements justify a Buy rating. The company remains a key player in cancer screening, and its ongoing developments and strategic positioning provide a solid foundation for future growth, supporting the Buy recommendation.
In another report released today, Barclays also maintained a Buy rating on the stock with a $60.00 price target.
GH’s price has also changed dramatically for the past six months – from $41.480 to $61.360, which is a 47.93% increase.