TriSalus Life Sciences Target Price Increases to $12.00 Amid Analyst Upgrades

TriSalus Life Sciences (NASDAQ: TLSI) has seen its target price raised from $11.00 to $12.00, according to a research note released by Canaccord Genuity Group on November 29, 2023. The firm currently maintains a “buy” rating on the stock, signaling confidence in the company’s potential growth.

This adjustment in target price comes alongside other recent evaluations of TriSalus. Wall Street Zen upgraded the company from a “sell” rating to a “hold” rating on November 28, while Weiss Ratings reaffirmed a “sell (d-)” rating just days later. The consensus among analysts indicates a mixed outlook, with three analysts rating the stock as a buy, one assigning a hold rating, and one branding it as a sell. According to data from MarketBeat, the overall consensus rating for TriSalus Life Sciences stands at “hold,” with an average price target of $11.00.

Recent Financial Performance

TriSalus Life Sciences announced its latest quarterly earnings on November 13, 2023. The company reported an earnings per share (EPS) of ($0.96), significantly missing the consensus estimate of ($0.17) by ($0.79). Revenue for the quarter reached $11.57 million, falling short of analyst expectations of $11.76 million. Analysts project that TriSalus will post an EPS of ($1.55) for the current financial year.

Institutional Investors Show Interest

Recent movements among institutional investors reflect a growing interest in TriSalus Life Sciences. Nantahala Capital Management LLC increased its stake by 2.0% in the third quarter, now holding 2,040,245 shares valued at approximately $9.49 million after acquiring an additional 40,245 shares. Similarly, Millennium Management LLC raised its holdings by 17.7%, bringing its total to 35,612 shares worth $166,000.

Other notable transactions include Squarepoint Ops LLC, which purchased a new stake valued at around $343,000, and White Pine Capital LLC, which acquired shares worth approximately $278,000. Notably, Vanguard Group Inc. has significantly increased its holdings by 42.4%, now owning 1,159,575 shares valued at about $5.39 million. Currently, institutional investors hold 2.58% of TriSalus Life Sciences’ stock.

TriSalus Life Sciences focuses on clinical-stage biotechnology, developing non-invasive drug-device combination therapies for oncology applications. The company utilizes proprietary electroporation and ultrasound platforms to enhance the localized delivery of existing chemotherapeutic agents, aiming to improve treatment efficacy while minimizing systemic toxicity. Its pipeline includes investigational products in early and mid-stage clinical trials targeting challenging head and neck cancers, where patient tolerability and improved tumor control are critical.

As TriSalus continues to navigate its financial landscape, these recent developments highlight both challenges and opportunities for the company moving forward.