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Investing.com - Evercore ISI raised its price target on Caris Life Sciences Inc (NASDAQ:CAI) to $40.00 from $33.00 on Wednesday, while maintaining an Outperform rating on the stock. The new target represents significant upside from the current trading price of $32.46, though InvestingPro analysis suggests the stock is currently overvalued. The company, with a market capitalization of $9 billion, is trading near its 52-week high of $33.50.
The research firm cited the company’s strong revenue growth of approximately 81% in the third quarter, with second-half expectations contemplating growth exceeding 65%. This growth is primarily being driven by ASP increases from the Centers for Medicare & Medicaid Services (CMS).
Evercore ISI highlighted that Caris achieved adjusted EBITDA positive status, which the firm estimates at approximately $5 million excluding true-up adjustments. This achievement differentiates Caris from its peers in the sector. According to InvestingPro data, the company maintains a "Fair" overall financial health score, with a solid current ratio of 1.05. Discover more detailed financial metrics and expert insights in the comprehensive Pro Research Report, available with an InvestingPro subscription.
The firm noted that Caris is expected to release Minimal Residual Disease (MRD) data from its Ensemble program in the second half of the year and is preparing to submit data to MolDx for reimbursement consideration.
The new $40 price target represents approximately 11 times the company’s calendar year 2026 enterprise value to revenue ratio and about 18 times enterprise value to gross profit.
In other recent news, Caris Life Sciences reported a substantial 81% increase in total revenue for the second quarter of 2025, reaching $181.4 million. This growth was primarily driven by a significant 86% rise in the company’s molecular profiling services. These results were announced during the company’s earnings call, highlighting the strong performance in this sector. Despite these impressive figures, the stock remained stable, with no major market reactions following the announcement. The revenue growth underscores Caris Life Sciences’ expanding influence in the market. Investors are closely watching how the company will leverage this momentum in future quarters. These developments are part of the recent updates concerning Caris Life Sciences.
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