Piper Sandler Initiates Coverage on Caris Life Sciences (NASDAQ:CAI)

Investment analysts at Piper Sandler began coverage on shares of Caris Life Sciences (NASDAQ:CAI) in a research report issued on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $21.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 16.24% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CAI. Weiss Ratings reiterated a “sell (d)” rating on shares of Caris Life Sciences in a research report on Monday, December 29th. Evercore set a $38.00 price target on shares of Caris Life Sciences in a research report on Monday, January 5th. Wall Street Zen upgraded shares of Caris Life Sciences from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Robert W. Baird lifted their price objective 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. Finally, Canaccord Genuity Group cut their price objective 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. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Caris Life Sciences Trading Down 5.9%

CAI stock opened at $18.07 on Friday. The firm’s 50 day moving average is $19.55. Caris Life Sciences has a 12-month low of $16.28 and a 12-month high of $42.50. The company has a debt-to-equity ratio of 0.66, a quick ratio of 7.35 and a current ratio of 7.85. The firm has a market cap of $5.11 billion and a P/E ratio of -100.37.

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

Institutional Inflows and Outflows

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

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.