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Investing.com - BTIG raised its price target on Caris Life Sciences Inc (NASDAQ:CAI) to $45 from $38 while maintaining a Buy rating following the company’s first earnings report as a public company. The stock, currently trading at $32.46, sits well below BTIG’s new target, with analyst targets ranging from $31 to $42. According to InvestingPro, the company currently shows a FAIR financial health score.
The molecular diagnostics firm reported revenue that exceeded expectations by 31%, with total revenue reaching $452.5M and maintaining a healthy gross margin of 46.71%. This performance was driven primarily by higher-than-expected contribution from its MI Cancer Seek (Tissue) CDx product, which carries a premium CMS reimbursement rate of $8,455.
Caris demonstrated strong performance in the tissue therapy selection market with 80% revenue growth, maintaining its market leadership position in this segment. The company estimates that the therapy selection market currently stands at approximately 30% penetration, suggesting significant growth potential.
The revenue outperformance translated directly to improved bottom-line results, with Caris indicating it has reached sustainable adjusted EBITDA profitability, which BTIG noted is "an impressive feat for a newly public company."
BTIG’s price target increase reflects the firm’s confidence in Caris’s market position and growth trajectory in the molecular diagnostics space, particularly in cancer diagnostics and therapy selection.
In other recent news, Caris Life Sciences reported an impressive 81% year-over-year increase in total revenue for the second quarter of 2025, reaching $181.4 million. This growth was largely driven by its molecular profiling services, which saw an 86% increase. Evercore ISI responded to these strong financial results by raising its price target for Caris Life Sciences from $33 to $40, maintaining an Outperform rating. The research firm noted that the company’s revenue growth is expected to exceed 65% in the second half, bolstered by price increases from the Centers for Medicare & Medicaid Services (CMS). These recent developments indicate a period of robust financial performance for Caris Life Sciences.
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