Caris Life Sciences (NASDAQ:CAI) Coverage Initiated at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group began coverage on shares of Caris Life Sciences (NASDAQ:CAI) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 39.97% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Wall Street Zen raised shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Robert W. Baird raised their price objective on shares of Caris Life Sciences from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. BTIG Research cut their target price on shares of Caris Life Sciences from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Canaccord Genuity Group decreased their target price on Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating for the company in a research report on Friday, March 13th. Finally, Evercore set a $38.00 target price on shares of Caris Life Sciences in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.60.

Caris Life Sciences Trading Up 0.8%

Shares of CAI stock opened at $19.29 on Wednesday. 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 company has a fifty day moving average price of $20.31. The stock has a market capitalization of $5.45 billion and a P/E ratio of -107.17. Caris Life Sciences has a twelve month low of $16.28 and a twelve month high of $42.50.

Caris Life Sciences (NASDAQ:CAI) last announced its earnings results 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 business had revenue of $292.89 million for the quarter, compared to analyst estimates of $281.00 million. The firm’s revenue was up 125.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.73) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in Caris Life Sciences in the fourth quarter worth $261,000. PEAK6 LLC grew its position in shares of Caris Life Sciences by 6.9% during the fourth quarter. PEAK6 LLC now owns 24,800 shares of the company’s stock worth $669,000 after acquiring an additional 1,600 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Caris Life Sciences by 14.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after acquiring an additional 1,180,200 shares during the period. Invesco Ltd. lifted its position in Caris Life Sciences by 28.5% in the 4th quarter. Invesco Ltd. now owns 1,033,115 shares of the company’s stock valued at $27,873,000 after purchasing an additional 229,313 shares during the last quarter. Finally, VARCOV Co. acquired a new position in Caris Life Sciences during the 4th quarter valued at about $1,080,000.

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.