Piper Sandler is bullish on oncology company Guardant Health for the long term.
Analyst David Westenberg upgraded Guardant Health to overweight from neutral and maintained his $40 price target, which implies 55% upside for the stock from Tuesday's close.
The company owns the first FDA-approved comprehensive liquid biopsy treatment for all advanced solid tumors.
Shares of Guardant Health added about 6%.
Guardant Health received approval from the U.S. Food and Drug Administration in January for its Guardant360 liquid biopsy test, which helps identify advanced or metastatic breast cancer patients with ESR1 mutations.
Persons:
Piper Sandler, David Westenberg, Westenberg, Guardant
Organizations:
Guardant Health, Guardant, FDA, U.S . Food, Drug Administration
Locations:
U.S, MRD, Guardant