Guardant Health price target lowered to $70 from $83 at Cowen

Cowen analyst Max Masucci lowered the firm’s price target on Guardant Health to $70 from $83 and keeps an Outperform rating on the shares. The analyst said all signs point to its blood-based CRC screening test earning Medicare coverage, and he views FDA approval and adoption in the unscreened population as likely outcomes.