Guardant Health’s Strategic Advancements and Innovative Growth Drive Buy Rating

In a report released yesterday, Kyle Mikson CFA from Canaccord Genuity maintained a Buy rating on Guardant Health (GH – Research Report), with a price target of $65.00.

Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Guardant Health’s promising growth potential and recent strategic advancements. The company has made significant strides with the introduction of new tests, such as the hereditary cancer test and comprehensive immunohistochemistry testing, which are expected to drive increased volumes for their Guardant360 liquid biopsy test. These developments, alongside the launch of nearly a dozen new Smart Liquid Biopsy applications, underscore the company’s innovative approach and potential market expansion.
Furthermore, the strong performance of products like TissueNext, which has seen growth without extensive marketing efforts, and the improved reimbursement landscape, bolster the company’s financial outlook. The recent upgrades to the G360 applications, which enhance diagnostic capabilities for physicians, are likely to deepen market penetration and adoption. Additionally, the Reveal test’s ability to provide critical insights into treatment decisions post-surgery, as demonstrated in a large-scale study, further validates Guardant Health’s position in the market. Despite potential near-term challenges from competitors, these factors collectively support the Buy rating, reflecting confidence in the company’s long-term trajectory.

Mikson CFA covers the Healthcare sector, focusing on stocks such as Illumina, Akoya Biosciences, and Repligen. According to TipRanks, Mikson CFA has an average return of -13.0% and a 28.25% success rate on recommended stocks.

In another report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a $60.00 price target.