Guardant Health Stock Jumps 10% to $108 on Momentum From Record Q1 Revenue Beat and Raised Guidance

NEW YORK — Guardant Health Inc. (NASDAQ: GH) shares surged more than 10% in midday trading Wednesday, reaching $108.28, up $10.08 or 10.27%, as of 11:46 a.m. EDT, extending gains from strong first-quarter results and an upward revision to full-year revenue guidance.

The precision oncology company reported first-quarter 2026 revenue of $301.7 million on May 7, an increase of 48% from $203.5 million in the year-ago period. The results beat analyst estimates of approximately $278 million to $279 million.

Oncology revenue rose 36% to $205.0 million, driven by approximately 86,000 tests, up 47% year-over-year. Screening revenue jumped more than 600% to $41.6 million, with about 44,000 Shield tests performed compared to 9,000 in the prior-year quarter. Biopharma and data revenue increased 17% to $53.0 million.

Helmy Eltoukhy, co-founder and co-CEO, said in the earnings release: “Our first-quarter revenue increased 48% year over year, reflecting strong momentum across the Guardant portfolio.”

AmirAli Talasaz, co-founder and co-CEO, added: “We are pleased with our progress with Shield, including strong volume momentum exiting the first quarter.”

The company raised its 2026 revenue guidance to $1.30 billion to $1.32 billion, representing 32% to 34% growth over 2025. That compares to the prior outlook of $1.25 billion to $1.28 billion.

Non-GAAP gross margin improved to 66% from 65% a year earlier. The company reported a net loss of $112.1 million, or $0.85 per share, compared with a net loss of $95.2 million, or $0.77 per share, in the first quarter of 2025. Non-GAAP loss per share was $0.45, beating consensus estimates of about $0.47.

Guardant Health ended the quarter with strong test volume growth across segments. It has surpassed $1 billion in trailing 12-month revenue, marking a key milestone.

The stock closed at $98.19 on May 19, up 2.64% for that session. Wednesday’s move pushed the shares well above recent levels, with market capitalization exceeding $14 billion. The 52-week range stands at roughly $36 to $120.

Recent analyst actions have been positive. Piper Sandler raised its price target to $135 from $130. JPMorgan increased its target to $135 from $130. Baird lifted its target to $129 from $120. Multiple firms including Barclays, William Blair, Guggenheim and BTIG maintained buy ratings following the earnings report.

The company has formed several partnerships. It announced a nationwide collaboration with Quest Diagnostics to expand access to the Shield colorectal cancer screening test. It launched Shield Multi-Cancer Detection in Asia through a partnership with Manulife. It entered a multi-year strategic collaboration with Nuvalent to develop companion diagnostics using the Guardant Infinity platform.

Guardant Health also received U.S. FDA approval for Guardant360 Liquid CDx. It continues work on submissions to MolDx for broader reimbursement.

Chief Financial Officer Michael Bell discussed operational improvements on the May 7 earnings call, noting progress in cost discipline and higher selling prices contributing to margin gains. The company expects free cash flow burn of $185 million to $195 million for 2026, better than the prior year.

Headcount and infrastructure investments support commercial expansion, particularly for Shield. The test targets colorectal cancer screening in average-risk adults, addressing a large unmet need where compliance with traditional methods remains low.

Analysts project continued growth in both therapy selection and early detection segments. Oncology test reimbursement has improved, supporting average selling prices in the $3,000 to $3,100 range for Guardant360 Liquid.

The broader precision oncology market has seen increased adoption of liquid biopsy technologies. Guardant Health competes with firms offering similar blood-based genomic profiling while differentiating through its screening pipeline.

Insider activity included sales by executives in recent weeks. Co-CEO AmirAli Talasaz sold shares in May, consistent with planned trading programs. Such transactions do not reflect changes in operational outlook.

Guardant Health, headquartered in Palo Alto, California, employs approximately 2,500 people. It focuses on liquid and tissue biopsies for therapy selection, monitoring and early detection across multiple cancer types.

The company has expanded internationally and through laboratory partnerships to increase test accessibility. Its Guardant Infinity platform supports multiomic analysis for drug development and companion diagnostics.

Investors continue to monitor quarterly test volumes, reimbursement trends and progress toward profitability. The raised guidance reflects confidence in sustained commercial momentum and partnership contributions.

Shares have shown volatility typical of growth-oriented health care stocks but have trended higher year-to-date on execution of clinical and commercial milestones. Upcoming catalysts include further regulatory decisions and additional data readouts from Shield and other programs.

Guardant Health reiterated its long-term strategy of reinvesting in scale initiatives for product innovation, commercial reach and operational efficiency. It aims to maintain leadership in the liquid biopsy space while expanding into multi-cancer early detection.

The midday surge on May 20 came amid broader market conditions and sector rotation toward health care names with strong growth profiles. Trading volume exceeded recent averages as the stock approached levels not seen consistently since earlier in the year.