TriSalus Life Sciences (NASDAQ: TLSI) has received an increased price target of $12.00 from Canaccord Genuity Group, up from a previous target of $11.00. This upgrade was detailed in a research note published on Wednesday morning, which also maintained a buy rating for the stock. The company’s performance has attracted attention from multiple investment analysts, indicating a mixed sentiment among market observers.
On November 28, 2023, Wall Street Zen upgraded TriSalus Life Sciences from a “sell” rating to a “hold” rating. Conversely, Weiss Ratings reaffirmed a “sell (d-)” rating in a report issued on Monday. A review of analyst ratings reveals that three analysts currently rate the stock as a buy, one holds a neutral stance, and another has issued a sell rating. According to data from MarketBeat, the overall consensus rating for the company stands at “hold,” with a consensus price target of $11.00.
Quarterly Performance and Future Projections
TriSalus Life Sciences recently reported its quarterly earnings on November 13, 2023. The company disclosed an earnings per share (EPS) of ($0.96), significantly missing the consensus estimate of ($0.17) by ($0.79). The reported revenue of $11.57 million fell short of analyst expectations of $11.76 million. Analysts anticipate that the company will report an EPS of ($1.55) for the current financial year, indicating ongoing challenges as it navigates the biotechnology market.
Institutional investors have made recent adjustments to their holdings in TriSalus Life Sciences, reflecting growing interest in the company. Nantahala Capital Management LLC increased its stake by 2.0% during the third quarter, now owning 2,040,245 shares valued at approximately $9.5 million. Millennium Management LLC also boosted its holdings by 17.7%, acquiring an additional 5,359 shares, bringing its total to 35,612 shares worth $166,000.
Several other firms have entered the fold as well. Squarepoint Ops LLC established a new position worth around $343,000, while White Pine Capital LLC acquired shares valued at approximately $278,000. Notably, Vanguard Group Inc. has increased its holdings by 42.4%, now owning 1,159,575 shares valued at about $5.39 million. Currently, institutional investors hold approximately 2.58% of the stock.
About TriSalus Life Sciences
TriSalus Life Sciences, Inc. is a clinical-stage biotechnology company dedicated to developing and commercializing non-invasive drug-device combination therapies for oncology applications. The firm utilizes proprietary electroporation and ultrasound technologies to enhance the localized delivery of established chemotherapeutic agents, aiming to minimize systemic toxicity.
The company’s lead programs focus on challenging head and neck cancers, addressing significant unmet needs for improved tumor control and patient tolerability. Its pipeline includes investigational product candidates in early and mid-stage clinical trials, which explore combining its electrochemotherapy platform with radiation therapy and immuno-oncology agents.
As TriSalus Life Sciences moves forward, its ability to meet market expectations and navigate the complexities of the biotechnology sector will be closely monitored by investors and analysts alike.
