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

Caris Life Sciences (NASDAQ:CAI) had its price objective reduced by research analysts at JPMorgan Chase & Co. from $35.00 to $30.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 87.38% from the company’s current price.

Other analysts have also issued research reports about the company. Robert W. Baird set a $22.00 price objective on Caris Life Sciences in a research report on Friday. 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 price objective on the stock. Piper Sandler assumed coverage on Caris Life Sciences in a research report on Friday, April 10th. They set a “neutral” rating and a $21.00 price objective on the stock. Canaccord Genuity Group cut their price objective on 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. 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 price objective on the stock. Five 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Caris Life Sciences Stock Down 19.3%

NASDAQ:CAI traded down $3.83 during trading hours on Friday, reaching $16.01. 7,080,529 shares of the stock were exchanged, compared to its average volume of 2,422,057. The company has a debt-to-equity ratio of 0.66, a current ratio of 7.85 and a quick ratio of 7.35. The stock has a 50-day simple moving average of $19.15. Caris Life Sciences has a twelve month low of $15.71 and a twelve month high of $42.50. The stock has a market cap of $4.53 billion and a P/E ratio of -88.68.

Caris Life Sciences (NASDAQ:CAI) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.27. The firm had revenue of $292.89 million for the quarter, compared to analyst estimates of $281.00 million. During the same quarter last year, the company earned ($1.73) earnings per share. The firm’s revenue for the quarter was up 125.4% on a year-over-year basis. On average, research analysts forecast that Caris Life Sciences will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Caris Life Sciences

A number of hedge funds have recently added to or reduced their stakes in CAI. Diversified Trust Co. acquired a new stake in Caris Life Sciences in the fourth quarter valued at about $540,000. Olistico Wealth LLC acquired a new stake in Caris Life Sciences in the fourth quarter valued at about $31,000. Zevenbergen Capital Investments LLC acquired a new stake in Caris Life Sciences in the fourth quarter valued at about $14,655,000. Hamilton Lane Advisors LLC acquired a new stake in Caris Life Sciences in the fourth quarter valued at about $1,584,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Caris Life Sciences by 26.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 75,330 shares of the company’s stock valued at $2,032,000 after buying an additional 15,778 shares in the last quarter.

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.