Analyst Mark Massaro from BTIG reiterated a Buy rating on Guardant Health and increased the price target to $70.00 from $65.00.
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Mark Massaro has given his Buy rating due to a combination of factors that highlight Guardant Health’s strong position in the market. The company recently released its second version of data for its FDA-cleared blood-based colorectal cancer screening test, showing improvements in sensitivity without compromising specificity. This advancement reinforces Guardant’s leadership in liquid biopsy technology, a field where it is already considered a pioneer.
Despite a recent dip in stock price, Massaro attributes this to a misinterpretation of the data by some investors, rather than any fundamental issues with the company’s performance. Guardant’s test is gaining traction with Medicare coverage and premium pricing, and it is included in important clinical guidelines. The analyst is optimistic about the company’s future initiatives, including the multi-cancer early detection panel, and has raised the price target from $65 to $70, reflecting confidence in Guardant’s strategic market positioning.
According to TipRanks, Massaro is an analyst with an average return of -7.7% and a 32.72% success rate. Massaro covers the Healthcare sector, focusing on stocks such as Adaptive Biotechnologies, Idexx Laboratories, and CareDx.
In another report released today, Raymond James also maintained a Buy rating on the stock with a $61.00 price target.