Shares of TriSalus Life Sciences, Inc. (NASDAQ: TLSI) recently received a consensus rating of “Hold” from five brokerages monitoring the stock, according to a report from MarketBeat.com. The analysis reveals a mixed outlook, with one analyst recommending a sell, one a hold, and three others advising a buy. The average price target over the next twelve months is estimated at $11.00.
Market analysts have issued several recent reports on TriSalus Life Sciences. Weiss Ratings maintained a “sell (d-)” rating in a note published on December 15, 2023. Following this, Zacks Research upgraded the company from a “strong sell” to a “hold” rating on December 16, 2023. Similarly, Wall Street Zen revised their rating from sell to hold on November 28, 2023. In a more optimistic note, Canaccord Genuity Group increased its price target for TriSalus Life Sciences from $11.00 to $12.00, also assigning a buy rating on December 17, 2023.
Recent Earnings Report and Analyst Predictions
TriSalus Life Sciences posted disappointing quarterly earnings on November 13, 2023. The company reported an earnings per share (EPS) of ($0.96), falling short of the consensus estimate of ($0.17) by ($0.79). Revenue for the quarter was $11.57 million, slightly below analysts’ expectations of $11.76 million. Looking ahead, analysts predict that TriSalus Life Sciences will record an EPS of (1.55) for the current fiscal year.
Investors have shown varied interest in the company. Nantahala Capital Management LLC established a new position during the second quarter, valued at approximately $10.9 million. Additionally, AWM Investment Company Inc. acquired shares worth about $6.81 million.
The Vanguard Group Inc. increased its stake in TriSalus Life Sciences by 42.4% in the third quarter, owning 1,159,575 shares valued at approximately $5.39 million after purchasing an additional 345,186 shares during this period. Other notable investors include Gilder Gagnon Howe & Co. LLC, which grew its holdings by 32.1%, and Geode Capital Management LLC, which raised its position by 107.4%.
Company Overview and Future Prospects
Founded as a clinical-stage biotechnology firm, TriSalus Life Sciences focuses on developing non-invasive drug-device combination therapies for oncology applications. The company utilizes proprietary electroporation and ultrasound platforms aimed at enhancing the localized delivery of established chemotherapeutic agents to reduce systemic toxicity.
Its primary programs target challenging head and neck cancers, where the need for improved tumor control and patient tolerability is critical. The company’s pipeline includes investigational product candidates currently in early and mid-stage clinical trials, including studies that pair its electrochemotherapy platform with radiation therapy and immuno-oncology agents.
With institutional investors holding approximately 2.58% of the stock, the future trajectory of TriSalus Life Sciences will heavily depend on the performance of its clinical trials and market reception of its innovative therapies.
