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Guardant Health Inc GH

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Morningstar’s Analysis

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Guardant Health Looks Fairly Valued After NeoGenomics Deal Rumors Cause Stock Slide

Aaron Degagne Equity Analyst

Analyst Note

| Aaron Degagne |

We are leaving our $91 fair value estimate and no-moat rating for Guardant Health intact, though rumors of a deal to acquire NeoGenomics, a $6 billion market cap testing company, sent the stock tumbling nearly 15% in Oct. 1 trading. With the shares now trading significantly below their $179 high from earlier in the year, we now see Guardant as fairly valued, given the very high uncertainty rating we place on the firm’s valuation.

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Company Profile

Business Description

Guardant Health, based in Redwood City, California, provides cancer blood tests and analytics for clinical and research use, and the firm maintains research partnerships with large biopharmaceutical companies. The company offers Guardant 360, a blood-based (liquid biopsy) test for treatment selection in advanced stage cancer, and Guardant Omni, a broader gene panel for immuno-oncology research. The company’s pipeline includes Guardant Reveal (formerly Lunar-1), for cancer recurrence detection in survivors, and Lunar-2, a liquid biopsy for early detection of cancer in higher-risk individuals, with an initial focus on colorectal cancer. Additionally, Guardant offers research development services. The United States accounts for 90% of total revenue, and other markets the remaining 10%.

505 Penobscot Drive
Redwood City, CA, 94063
T +1 855 698-8887
Sector Healthcare
Industry Diagnostics & Research
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Speculative Growth
Employees 864