BUZZ-Guardant Health jumps after FY revenue forecast raise

reuters11-07
BUZZ-Guardant Health jumps after FY revenue forecast raise

** Shares of cancer test maker Guardant Health GH.O gain 16.96% to $29.58 premarket

** Co expects FY revenue in the range of $720 mln to $725 mln compared to $690 mln to $700 mln expected earlier

** Q3 revenue of $191.5 mln vs analysts' estimate of $170.63 million - data compiled by LSEG

** GH received $920 per test from Centers for Medicare and Medicaid Services for its blood-based test, Shield

** Brokerage BTIG views this as an initial price, as GH expects to secure advanced diagnostic laboratory test status from CMS in 2025, after which it could achieve CMS pricing at list price of $1,495/test

** Up to last close, stock down 6.5% YTD

(Reporting by Sriparna Roy in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))

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