Guardant Health Inc. (GH) shares soared 6.22% during intraday trading on Friday, marking a significant upward movement for the healthcare stock.
The surge appears driven by a series of positive analyst actions following the company's latest earnings report. Multiple financial firms raised their price targets for Guardant Health, including BTIG (to $145 from $140), JP Morgan (to $130 from $120), Barclays (to $130 from $120), Leerink Partners (to $180 from $170), Stifel (to $130 from $120), TD Cowen (to $135 from $130), and Canaccord (to $135 from $125).
These bullish revisions come after Guardant Health reported quarterly revenue that rose 39.4% year-over-year to $281.27 million, surpassing analyst expectations of $271.01 million. The strong revenue performance despite an earnings per share miss has fueled optimism about the company's growth trajectory among Wall Street analysts.