Caris Life Sciences initiated with a Buy at BTIG

BTIG analyst Mark Massaro initiated coverage of Caris Life Sciences (CAI) with a Buy rating and $38 price target Caris offers the first and only FDA-approved WES/WTS tissue-based assay, is now building greater interest in its newer liquid biopsy test and its biopharma offerings, and with time, will launch in MRD testing and in early cancer detection, the analyst tells investors in a research note. BTIG adds that its checks with medical oncologists unveiled that Caris is a high-quality lab provider that can find malignancies that other labs at times can miss, in part since Caris tests a patient’s full transcriptome.