Guardant Health Named BTIG Top Pick with $210 Target Following 36% Q3 Revenue Growth

Guardant Health's third-quarter revenue increased 36% year over year to $361 million, beating market estimates of $355 million. The company also raised its 2026 revenue guidance to $1.36 billion-$1.37 billion up from its earlier forecast of $1.34 billion-$1.36 billion.

Revenue from its Shield colorectal cancer screening test grew 180% to around $68 million. The number of tests also increased 246% to 83,000.

BTIG highlighted reimbursement and pricing uncertainty, competition and the timing of profitability as key risks for the company.

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Guardant Health has also increased its 2026 sales target for its Shield screening test to 285,000–290,000 tests, up from its earlier forecast of 270,000–285,000. Its core oncology business also grew, with test volumes rising 58% to 117,000 and Guardant360 revenue increasing nearly 30%.

Reveal MRD, the company's test for detecting remaining cancer cells after treatment, remained its fastest-growing oncology product, with volumes growing more than 100%.

BTIG sees several growth opportunities for the company, including wider Medicare coverage for Reveal MRD, the planned launch of Reveal Ultra MRD by the end of 2026 and the possibility of higher pricing for Guardant360 Smart Liquid in 2027.

BTIG's $210 price target is based on its expected 2028 revenue and a valuation multiple of 15.6 times. However, reimbursement and pricing uncertainty, competition and the timing of profitability remain key risks.

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