Leerink Partners analyst Puneet Souda maintained a Buy rating on Guardant Health yesterday and set a price target of $70.00.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight Guardant Health’s strong market position and growth potential. The company is recognized as a leader in the liquid biopsy space, particularly with its G360 assay for late-stage cancer testing. Guardant Health has shown impressive performance across its clinical products, especially in the screening segment, with significant revenue growth and an optimistic full-year guidance.
Furthermore, the company has strategically shifted its focus towards multi-cancer early detection (MCD), which is a larger market opportunity compared to the CRC Shield v2. This strategic pivot is supported by the initiation of the NCI Vanguard study, setting the stage for a future commercial launch of the MCD assay. The strong financial performance, coupled with a strategic focus on expanding its product offerings, underpins the raised price target to $70 and the maintained Outperform rating.
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 moderately for the past six months – from $46.980 to $40.980, which is a -12.77% drop .