Recent Performance and Expectations
Guardant Health (GH) saw its stock rise by 6.3% during the latest trading session, finishing at $35.88. This price movement reflects significant trading volume, signaling greater activity than usual. In contrast, the stock had dropped 8.4% over the past month.
Shield Test Approved for Colorectal Cancer Screening
The company promotes its blood test, Shield, which is FDA-approved for colorectal cancer (CRC) screenings in adults aged 45 and older who have an average risk of the disease. Guardant Health asserts that Shield offers a simple and comfortable screening option, potentially increasing CRC screening rates. The positive response from doctors and patients may be influencing the current increase in share prices.
Financial Forecasts and Earnings Outlook
Looking ahead, Guardant Health is projected to report a quarterly loss of $0.51 per share, which is an improvement of 67.7% compared to the same period last year. The company’s expected revenue is $186.25 million, marking a 20.1% increase from last year’s quarter.
While earnings and revenue growth provide insight into a stock’s potential, trends in earnings estimate revisions are often closely linked to immediate stock price movements. For Guardant Health, the consensus earnings per share (EPS) estimate has remained stable over the last month. Typically, a stock does not maintain upward momentum without corresponding changes in earnings estimates. Investors should monitor GH closely to see if this uptick in price leads to sustained growth.
Industry Insights and Comparisons
The stock has a Zacks Rank #3 (Hold). For additional context, Guardant Health operates within the Zacks Medical – Biomedical and Genetics industry. Another company in this sector, Arcellx, Inc. (ACLX), closed the previous trading session down 5.2% at $75.01, having experienced a decline of 6.4% over the past month.
For Arcellx, the consensus EPS estimate for the upcoming earnings announcement has increased by 1.3% over the past month to -$0.63, reflecting a 250% decline from the previous year’s results. Arcellx also holds a Zacks Rank of #3 (Hold).
Investment Opportunities Ahead
Five stocks have been identified as potential high performers, selected by a Zacks expert with predictions of gains of +100% or more in 2024. Historical recommendations have achieved impressive returns of +143.0%, +175.9%, +498.3%, and +673.0%.
These stocks may currently be less visible to Wall Street, presenting unique investment opportunities for early investors. Discover these five potential home runs >>.
For the latest recommendations from Zacks Investment Research, download “7 Best Stocks for the Next 30 Days” to get this free report.
Guardant Health, Inc. (GH): Free Stock Analysis Report
Arcellx, Inc. (ACLX): Free Stock Analysis Report
To read this article on Zacks.com, click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
