Caris Life Sciences (NASDAQ:CAI) Price Target Lowered to $32.00 at BTIG Research

Key Points

• BTIG Research cut Caris Life Sciences' price target to $32 from $38 while maintaining a "buy" rating, implying about a 61% upside from the stock's prior close.
• Analyst coverage is mixed—four Buys, two Holds and one Sell—resulting in a MarketBeat consensus rating of Hold and a consensus price target of $28.
• Caris posted a strong quarter with EPS of $0.28 and revenue up 125.4% year‑over‑year, yet the stock trades around $19.84 with a negative P/E and a one‑year high of $42.50.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) had its price target dropped by analysts at BTIG Research from $38.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's price objective suggests a potential upside of 61.29% from the stock's previous close.

Several other analysts have also weighed in on CAI. Wall Street Zen lowered Caris Life Sciences from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Piper Sandler assumed coverage on Caris Life Sciences in a report on Friday, April 10th. They issued a "neutral" rating and a $21.00 price objective for the company. Robert W. Baird boosted their target price on Caris Life Sciences from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday, February 27th. The Goldman Sachs Group assumed coverage on Caris Life Sciences in a research report on Wednesday, April 1st. They set a "buy" rating and a $27.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Caris Life Sciences in a research report on Monday, April 13th. They set a "buy" rating and a $28.00 target price on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Caris Life Sciences currently has an average rating of "Hold" and a consensus price target of $28.00.

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Caris Life Sciences Stock Performance

Shares of CAI stock opened at $19.84 on Friday. The company has a quick ratio of 7.35, a current ratio of 7.85 and a debt-to-equity ratio of 0.66. The firm has a market cap of $5.61 billion and a price-to-earnings ratio of -110.22. The stock's fifty day simple moving average is $19.15. Caris Life Sciences has a 1 year low of $16.28 and a 1 year high of $42.50.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.27. The firm had revenue of $292.89 million during the quarter, compared to analyst estimates of $281.00 million. The company's quarterly revenue was up 125.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.73) EPS. Equities research analysts predict that Caris Life Sciences will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Caris Life Sciences

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its stake in Caris Life Sciences by 99,900.0% in the 4th quarter. Global Retirement Partners LLC now owns 1,000 shares of the company's stock worth $27,000 after acquiring an additional 999 shares in the last quarter. Olistico Wealth LLC purchased a new stake in Caris Life Sciences in the 4th quarter worth about $31,000. MetLife Investment Management LLC lifted its stake 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 worth $45,000 after acquiring an additional 755 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Caris Life Sciences in the 1st quarter worth about $31,000. Finally, Sterling Capital Management LLC lifted its stake in Caris Life Sciences by 128.3% in the 1st quarter. Sterling Capital Management LLC now owns 1,927 shares of the company's stock worth $34,000 after acquiring an additional 1,083 shares in the last quarter.

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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