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Mizuho (NYSE:MFG) raised its price target on Guardant Health (NASDAQ:GH) stock to $65.00 from $60.00 on Friday, while maintaining an Outperform rating on the healthcare company. Trading near its 52-week high of $52.92, the stock has delivered an impressive 60% return year-to-date, according to InvestingPro data.
The price target increase follows the FDA’s breakthrough device designation for Guardant’s Shield cancer detection test, which prompted Mizuho to raise its volume estimates for Shield in the fourth quarter of 2025, 2026, and beyond. The company has demonstrated strong revenue growth of 28.2% over the last twelve months, with InvestingPro analysis showing a healthy financial position and moderate debt levels.
Mizuho conducted a Quick Poll of primary care physicians to gather early insights on the Shield test, with results showing bullish physician utilization patterns for the product.
Survey respondents indicated they expect a 60-70% average selling price premium for a Multicancer test versus a colorectal cancer-only test, according to Mizuho’s research note.
The research firm cited its "incrementally bullish Shield outlook" as the primary reason for raising the price target on Guardant Health stock.
In other recent news, Guardant Health has been in the spotlight due to several significant developments. The company announced that its Shield multi-cancer detection (MCD) test received Breakthrough Device designation from the U.S. Food and Drug Administration (FDA). This designation is part of the FDA’s program to expedite the development of medical devices that could improve the diagnosis of life-threatening diseases. The Shield MCD test, which screens for multiple cancer types, has demonstrated robust performance, including 98.6% specificity and 75% sensitivity in clinical validation data presented at the American Society for Clinical Oncology (ASCO) Annual Meeting.
Additionally, Guardant Health’s Shield colorectal cancer screening test was included in the guidelines by the National Comprehensive Cancer Network (NCCN), marking a significant step forward for the test’s acceptance. This update has led Raymond (NSE:RYMD) James analysts to maintain an Outperform rating with a $59.00 price target for the company’s stock, emphasizing the test’s potential for individuals who prefer non-invasive screening methods. UBS analysts also reiterated their Buy rating, maintaining a $70.00 price target, citing Guardant Health’s leadership in tumor profiling and promising opportunities in cancer screening.
Furthermore, Leerink Partners analysts continue to view Guardant Health favorably, maintaining an Outperform rating and a $65.00 price target. They highlighted the company’s comprehensive product portfolio and effective operational execution. These recent developments underscore the positive sentiment from multiple analysts and the potential growth opportunities for Guardant Health in the diagnostics market.
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