JPMorgan Chase & Co. Issues Pessimistic Forecast for Caris Life Sciences (NASDAQ:CAI) Stock Price

Key Points

• JPMorgan Chase & Co. cut its price target on Caris Life Sciences from $35 to $30, while keeping an overweight rating. The new target still implies roughly 87% upside from the stock’s current price.
• Analyst sentiment remains mixed overall: the stock has a Moderate Buy consensus, with five Buy ratings, two Hold ratings, and one Sell rating. The average analyst price target is $27.50.
• Caris Life Sciences shares fell to $16.01 on Friday, near its 52-week low of $15.71, despite reporting strong quarterly results earlier with EPS of $0.28 versus a $0.01 estimate and revenue up 125.4% year over year.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $35.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 87.38% from the stock's current price.

Other equities research analysts have also issued reports about the company. Piper Sandler started coverage on Caris Life Sciences in a research note on Friday, April 10th. They set a "neutral" rating and a $21.00 price objective for the company. BTIG Research cut their price objective on Caris Life Sciences from $38.00 to $32.00 and set a "buy" rating for the company in a research note on Friday. Jefferies Financial Group started coverage on Caris Life Sciences in a research note on Monday, April 13th. They set a "buy" rating and a $28.00 price objective for the company. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a research note on Friday. Finally, Wall Street Zen cut Caris Life Sciences from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $27.50.

Caris Life Sciences Stock Performance

Shares of Caris Life Sciences stock traded down $3.83 on Friday, hitting $16.01. The company's stock had a trading volume of 7,080,529 shares, compared to its average volume of 2,422,057. The company has a quick ratio of 7.35, a current ratio of 7.85 and a debt-to-equity ratio of 0.66. Caris Life Sciences has a 1 year low of $15.71 and a 1 year high of $42.50. The firm's fifty day moving average is $19.15. The firm has a market cap of $4.53 billion and a P/E ratio of -88.68.

Caris Life Sciences (NASDAQ:CAI - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.01 by $0.27. The firm had revenue of $292.89 million for the quarter, compared to analysts' expectations of $281.00 million. During the same quarter last year, the firm posted ($1.73) earnings per share. Caris Life Sciences's quarterly revenue was up 125.4% on a year-over-year basis. As a group, analysts forecast that Caris Life Sciences will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CAI. PNC Financial Services Group Inc. lifted its holdings in Caris Life Sciences by 839.4% in the first quarter. PNC Financial Services Group Inc. now owns 1,644 shares of the company's stock valued at $29,000 after acquiring an additional 1,469 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in Caris Life Sciences in the first quarter valued at approximately $492,000. Bank of New York Mellon Corp lifted its holdings in Caris Life Sciences by 359.6% in the first quarter. Bank of New York Mellon Corp now owns 231,661 shares of the company's stock valued at $4,142,000 after acquiring an additional 181,258 shares during the last quarter. Emerald Advisers LLC acquired a new position in Caris Life Sciences in the first quarter valued at approximately $186,000. Finally, Fifth Third Bancorp acquired a new position in Caris Life Sciences in the first quarter valued at approximately $31,000.

Caris Life Sciences Company Profile

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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