Why Guardant Health Stock Blasted 13% Higher on Thursday

There's nothing like news of a monster earnings and/or revenue beat to pump a stock's price higher. That was what happened to cancer-focused biotech Guardant Health (NASDAQ: GH) on Thursday, as its third-quarter earnings release featured far higher-than-expected numbers. The company was rewarded with a more than 13% pop in its share price from a grateful market, easily crushing the 0.7% gain of the bellwether S&P 500 index.Guardant released its very heartening third-quarter numbers just after market close on Wednesday, and investors were eager to pounce on the stock the following day. Revenue was $191.5 million for the period, bettering the third quarter of 2023's result by 34%. That was on the back of a 21% increase in the number of clinical tests and a 40% leap in biopharma tests, to respective totals of 53,100 and 10,500. The biotech company's non-GAAP (adjusted) net loss narrowed considerably, as it was slightly more than $55 million ($0.45 per share) against the over $79 million deficit of the year-ago quarter. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool