TriSalus Life Sciences (NASDAQ:TLSI) has seen its target price increased from $11.00 to $12.00 by Canaccord Genuity Group, as announced in a research note on the morning of November 29, 2023. The firm has maintained a buy rating on the stock, indicating positive sentiment among analysts regarding the company’s future performance.
Several other financial analysts have also assessed TriSalus Life Sciences recently. 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. Currently, three investment analysts rate the stock as a buy, one as a hold, and one as a sell. According to MarketBeat data, TriSalus Life Sciences holds a consensus rating of “hold” with a consensus price target of $11.00.
Recent Earnings and Financial Outlook
TriSalus Life Sciences reported its quarterly earnings on November 13, revealing an earnings per share (EPS) of ($0.96). This result fell short of the consensus estimate of ($0.17) by ($0.79). The company generated revenue of $11.57 million during the quarter, slightly below the expected $11.76 million. Analysts project an average EPS of ($1.55) for the current fiscal year, indicating ongoing challenges for the firm.
Institutional Investor Activity
Recent trading activity indicates growing interest from institutional investors in TriSalus Life Sciences. Nantahala Capital Management LLC increased its stake by 2.0% in the third quarter, now owning 2,040,245 shares valued at approximately $9.49 million. Millennium Management LLC also raised its holdings by 17.7%, acquiring an additional 5,359 shares to reach a total of 35,612 shares worth $166,000.
Other notable movements include Squarepoint Ops LLC, which purchased a new position in the company worth around $343,000, and White Pine Capital LLC, which acquired shares valued at approximately $278,000. Vanguard Group Inc. significantly boosted its stake by 42.4%, now holding 1,159,575 shares worth $5.39 million. Collectively, institutional investors own 2.58% of TriSalus Life Sciences.
TriSalus Life Sciences operates as a clinical-stage biotechnology company focused on developing non-invasive drug-device combination therapies for oncology applications. The firm utilizes proprietary electroporation and ultrasound platforms to enhance drug delivery and efficacy while minimizing systemic toxicity. Their main programs target hard-to-treat head and neck cancers, addressing significant unmet medical needs in these areas.
As TriSalus Life Sciences continues its clinical trials, the company’s ability to navigate its financial challenges will be closely watched by investors and analysts alike.
