We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Guardant (GH) Gears Up for Q1 Earnings: Here's What to Expect
Read MoreHide Full Article
Guardant Health (GH - Free Report) is scheduled to report first-quarter 2024 results on May 9, after market close. In the last reported quarter, the company’s earnings missed expectations by 69.89%.
Factors to Consider
The Zacks Consensus Estimate for Guardant’s total revenues is pegged at around $151 million, while the same for earnings is pegged at a loss of 72 cents per share. Both metrics indicate improvements over the year-ago quarter’s levels.
Through its screening business, Guardant intends to provide critical insights into what drives oncology disease. The company derives its revenues from two sources — precision oncology testing and development services and other revenue.
The company generates the majority of its revenue from its precision oncology testing business, which consists of the sale of the company’s tests to its clinical and biopharmaceutical customers. The Zacks Consensus Estimate for precision oncology testing revenues is pegged at $139 million, likely driven by an increase in clinical and biopharmaceutical testing volume.
The Zacks Consensus Estimate for total tests performed (both clinical and biopharma customers) stands at around 55,493.
The development services revenue primarily represents services that Guardant provides to biopharmaceutical companies, large medical institutions and international laboratory partners. The Zacks Consensus Estimate for precision oncology testing revenues stands at around $12 million.
Last month, Guardant announced that an FDA panel is scheduled to review the premarket approval (PMA) application on May 23 for its Shield blood test for colorectal cancer (CRC) screening. This application is supported by data from the ECLIPSE study wherein the Shield test demonstrated 83% sensitivity in detecting individuals with CRC. If approved, the Shield test could become the first FDA-approved test for CRC screening to meet requirements for Medicare coverage. Per management, the Shield test offers a more convenient option over the current screening methods to detect CRC in the earlier stages, when it is most treatable.
Investors are also likely to seek an update from management on the company’s ongoing clinical studies evaluating different tests to screen cancer indications.
Earnings Surprise History
Guardant’s shares have lost 29.4% year to date compared withthe industry’s 5.8% fall.
Image Source: Zacks Investment Research
Guardant’s earnings performance has been mixed over the trailing four quarters. The company’s earnings beat estimates in two of the last four quarters while missing the mark on the other two occasions. On average, GH registered a negative earnings surprise of 1.29% in the last four quarters.
Our proven model does not predict an earnings beat for Guardant this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Guardant has an Earnings ESP of 0.00% as the Most Accurate Estimate and Zacks Consensus Estimate are pegged at a loss of 72 cents.
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ANI Pharmaceuticals (ANIP - Free Report) has an Earnings ESP of +9.74% and a Zacks Rank #2.
ANI Pharmaceuticals’ shares have risen 22.2% year to date. ANIP beat earnings estimates in each of the last four quarters, delivering an earnings surprise of 109.06% on average. ANI Pharmaceuticals will report first-quarter 2024 results on May 10, before the opening bell.
argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3.
The stock has gained 3.5% year to date. argenx beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, argenx witnessed an earnings surprise of 14.18% in the last four quarters. ARGX will report first-quarter 2024 results on May 9, before the opening bell.
AnaptysBio (ANAB - Free Report) has an Earnings ESP of +8.36% and a Zacks Rank #3.
AnaptysBio’s shares have risen 20.3% year to date. ANAB beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, AnaptysBio delivered a negative earnings surprise of 4.05% in the last four quarters.
Image: Bigstock
Guardant (GH) Gears Up for Q1 Earnings: Here's What to Expect
Guardant Health (GH - Free Report) is scheduled to report first-quarter 2024 results on May 9, after market close. In the last reported quarter, the company’s earnings missed expectations by 69.89%.
Factors to Consider
The Zacks Consensus Estimate for Guardant’s total revenues is pegged at around $151 million, while the same for earnings is pegged at a loss of 72 cents per share. Both metrics indicate improvements over the year-ago quarter’s levels.
Through its screening business, Guardant intends to provide critical insights into what drives oncology disease. The company derives its revenues from two sources — precision oncology testing and development services and other revenue.
The company generates the majority of its revenue from its precision oncology testing business, which consists of the sale of the company’s tests to its clinical and biopharmaceutical customers. The Zacks Consensus Estimate for precision oncology testing revenues is pegged at $139 million, likely driven by an increase in clinical and biopharmaceutical testing volume.
The Zacks Consensus Estimate for total tests performed (both clinical and biopharma customers) stands at around 55,493.
The development services revenue primarily represents services that Guardant provides to biopharmaceutical companies, large medical institutions and international laboratory partners. The Zacks Consensus Estimate for precision oncology testing revenues stands at around $12 million.
Last month, Guardant announced that an FDA panel is scheduled to review the premarket approval (PMA) application on May 23 for its Shield blood test for colorectal cancer (CRC) screening. This application is supported by data from the ECLIPSE study wherein the Shield test demonstrated 83% sensitivity in detecting individuals with CRC. If approved, the Shield test could become the first FDA-approved test for CRC screening to meet requirements for Medicare coverage. Per management, the Shield test offers a more convenient option over the current screening methods to detect CRC in the earlier stages, when it is most treatable.
Investors are also likely to seek an update from management on the company’s ongoing clinical studies evaluating different tests to screen cancer indications.
Earnings Surprise History
Guardant’s shares have lost 29.4% year to date compared withthe industry’s 5.8% fall.
Image Source: Zacks Investment Research
Guardant’s earnings performance has been mixed over the trailing four quarters. The company’s earnings beat estimates in two of the last four quarters while missing the mark on the other two occasions. On average, GH registered a negative earnings surprise of 1.29% in the last four quarters.
Guardant Health, Inc. Price and EPS Surprise
Guardant Health, Inc. price-eps-surprise | Guardant Health, Inc. Quote
Earnings Whispers
Our proven model does not predict an earnings beat for Guardant this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not thecase here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Guardant has an Earnings ESP of 0.00% as the Most Accurate Estimate and Zacks Consensus Estimate are pegged at a loss of 72 cents.
Zacks Rank: Guardant currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are a few stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
ANI Pharmaceuticals (ANIP - Free Report) has an Earnings ESP of +9.74% and a Zacks Rank #2.
ANI Pharmaceuticals’ shares have risen 22.2% year to date. ANIP beat earnings estimates in each of the last four quarters, delivering an earnings surprise of 109.06% on average. ANI Pharmaceuticals will report first-quarter 2024 results on May 10, before the opening bell.
argenx (ARGX - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #3.
The stock has gained 3.5% year to date. argenx beat earnings estimates in two of the last four quarters and missed the mark on one occasion while meeting the mark on another. On average, argenx witnessed an earnings surprise of 14.18% in the last four quarters. ARGX will report first-quarter 2024 results on May 9, before the opening bell.
AnaptysBio (ANAB - Free Report) has an Earnings ESP of +8.36% and a Zacks Rank #3.
AnaptysBio’s shares have risen 20.3% year to date. ANAB beat earnings estimates in three of the last four quarters while missing the mark on one occasion. On average, AnaptysBio delivered a negative earnings surprise of 4.05% in the last four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.