The Goldman Sachs Group Begins Coverage on Caris Life Sciences (NASDAQ:CAI)

Investment analysts at The Goldman Sachs Group initiated coverage on shares of Caris Life Sciences (NASDAQ:CAI) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $27.00 price target on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 51.01% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Caris Life Sciences in a report on Monday, December 29th. Wall Street Zen raised shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Evercore set a $38.00 target price on shares of Caris Life Sciences in a report on Monday, January 5th. Robert W. Baird raised their price target 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. Finally, Canaccord Genuity Group reduced their price target on shares of Caris Life Sciences from $30.00 to $22.00 and set a “hold” rating on the stock in a research report on Friday, March 13th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.60.

Caris Life Sciences Stock Performance

NASDAQ CAI opened at $17.88 on Wednesday. The stock’s fifty day moving average is $20.56. The firm has a market capitalization of $5.05 billion and a price-to-earnings ratio of -99.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 7.85 and a quick ratio of 7.35. Caris Life Sciences has a fifty-two week low of $16.28 and a fifty-two week high of $42.50.

Caris Life Sciences (NASDAQ:CAI) last issued its earnings results on Thursday, February 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.27. The company had revenue of $292.89 million during the quarter, compared to analysts’ expectations of $281.00 million. During the same quarter in the previous year, the company earned ($1.73) earnings per share. The firm’s quarterly revenue was up 125.4% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its stake in Caris Life Sciences by 14.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,205,959 shares of the company’s stock worth $248,377,000 after buying an additional 1,180,200 shares during the period. Braidwell LP raised its stake in shares of Caris Life Sciences by 6.8% in the 4th quarter. Braidwell LP now owns 7,816,142 shares of the company’s stock valued at $210,880,000 after acquiring an additional 500,000 shares during the period. PointState Capital LP lifted its holdings in shares of Caris Life Sciences by 73.0% in the 4th quarter. PointState Capital LP now owns 6,718,707 shares of the company’s stock worth $181,271,000 after acquiring an additional 2,834,986 shares during the last quarter. Orbimed Advisors LLC boosted its position in shares of Caris Life Sciences by 2.7% during the 4th quarter. Orbimed Advisors LLC now owns 3,116,011 shares of the company’s stock worth $84,070,000 after purchasing an additional 81,153 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Caris Life Sciences by 185.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,445,281 shares of the company’s stock worth $65,974,000 after purchasing an additional 1,587,176 shares during the period.

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.