William Blair analyst Andrew Brackmann has maintained their bullish stance on GH stock, giving a Buy rating yesterday.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Guardant Health’s strong performance and potential for growth. The company’s second-quarter results surpassed expectations, with significant top-line growth and increased full-year guidance, driven by robust trends in its oncology business, particularly the G360 product. This consistent momentum and the potential for continued growth support the Buy rating, as the company is expected to maintain or even improve its current valuation over the next year.
Despite some concerns regarding the timing of the Shield V2 performance data release, Brackmann remains optimistic about the company’s strategic focus on its multicancer screening test. This decision aligns with the ongoing NCI Vanguard study and reflects a prioritization of long-term growth opportunities. The analyst believes that the perceived delay in V2 data does not pose a significant issue, given the existing market presence of Shield V1 and the promising future of the multicancer screening initiative.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $63.00 price target.
Based on the recent corporate insider activity of 160 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.