Caris Life Sciences (NASDAQ:CAI) Earns Buy Rating from Analysts at Jefferies Financial Group

Key Points

• Jefferies initiated coverage on Caris Life Sciences (NASDAQ:CAI) with a Buy rating and a $28 price target, implying roughly a 55% upside from the then-current share price.
• Analyst opinions are mixed — four Buys, two Holds and one Sell — yielding a MarketBeat consensus of Hold and an average target price of $28.86.
• Caris posted a strong quarter, beating estimates with $0.28 EPS (vs. $0.01 expected) and $292.9M revenue (vs. $281M expected), and reported revenue growth of 125.4% year-over-year.

Jefferies Financial Group started coverage on shares of Caris Life Sciences (NASDAQ:CAI - Get Free Report) in a report issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $28.00 price target on the stock. Jefferies Financial Group's price target points to a potential upside of 54.99% from the stock's current price.

A number of other equities analysts have also commented on the company. Piper Sandler began coverage on Caris Life Sciences in a research note on Friday. They issued a "neutral" rating and a $21.00 price objective on the stock. Canaccord Genuity Group dropped their price objective on Caris Life Sciences from $30.00 to $22.00 and set a "hold" rating for the company in a report on Friday, March 13th. The Goldman Sachs Group assumed coverage on Caris Life Sciences in a report on Wednesday, April 1st. They issued a "buy" rating and a $27.00 price objective for the company. Weiss Ratings restated a "sell (d)" rating on shares of Caris Life Sciences in a report on Monday, December 29th. Finally, Robert W. Baird increased their price objective on Caris Life Sciences from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.86.

Caris Life Sciences Trading Up 0.1%

CAI opened at $18.07 on Monday. The company's 50 day moving average price is $19.55. Caris Life Sciences has a 1 year low of $16.28 and a 1 year high of $42.50. The company has a market capitalization of $5.11 billion and a PE ratio of -100.37. The company has a current ratio of 7.85, a quick ratio of 7.35 and a debt-to-equity ratio of 0.66.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.27. The company had revenue of $292.89 million during the quarter, compared to the consensus estimate of $281.00 million. During the same quarter last year, the company earned ($1.73) earnings per share. The business's revenue was up 125.4% on a year-over-year basis.

Institutional Trading of Caris Life Sciences

Hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC lifted its position in shares of Caris Life Sciences by 99,900.0% in the fourth quarter. Global Retirement Partners LLC now owns 1,000 shares of the company's stock valued at $27,000 after buying an additional 999 shares during the last quarter. Olistico Wealth LLC acquired a new position in Caris Life Sciences in the 4th quarter valued at $31,000. MetLife Investment Management LLC raised its holdings in Caris Life Sciences by 84.0% in the 4th quarter. MetLife Investment Management LLC now owns 1,654 shares of the company's stock valued at $45,000 after acquiring an additional 755 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Caris Life Sciences in the 4th quarter valued at $67,000. Finally, Federated Hermes Inc. bought a new position in shares of Caris Life Sciences in the 4th quarter valued at $81,000.

About Caris Life Sciences

Caris Life Sciences NASDAQ: CAI is a molecular science company focused on advancing precision medicine in oncology. The company develops and delivers comprehensive molecular profiling services designed to identify actionable biomarkers across DNA, RNA and protein modalities. Its clinical services are intended to support oncologists in treatment decision-making by matching patients to targeted therapies, immunotherapies and relevant clinical trials based on tumor biology.

Caris provides laboratory-based diagnostic testing and related interpretive reports, combining high-throughput sequencing and other molecular technologies with bioinformatic analysis.

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