Shares of TriSalus Life Sciences, Inc. (NASDAQ: TLSI) have received an average rating of “Hold” from five brokerages currently monitoring the stock, according to data from MarketBeat.com. This consensus reflects a mix of recommendations, with one analyst advising a sell, one a hold, and three endorsing a buy. The average twelve-month price target set by these analysts stands at $11.00.
The stock has recently been the focus of several analyst reports. Notably, Weiss Ratings reaffirmed a “sell (d-)” rating for TriSalus on December 15, 2023. The following day, Zacks Research upgraded its rating from “strong sell” to “hold.” Additionally, on November 28, Wall Street Zen also shifted its position from sell to hold. Meanwhile, Canaccord Genuity Group increased its price target for TriSalus from $11.00 to $12.00, issuing a buy recommendation on December 17, 2023.
Recent Performance and Financials
TriSalus Life Sciences reported a decline of 2.7% in its stock value recently. The company’s most recent quarterly earnings, disclosed on November 13, 2023, revealed a loss of ($0.96) earnings per share (EPS), falling short of the consensus estimate of ($0.17) by ($0.79). Revenue for the quarter was reported at $11.57 million, slightly below analysts’ expectations of $11.76 million. Analysts predict that the company will post an EPS of (1.55) for the current fiscal year.
Investment Activity
Recent trading activity shows significant interest from institutional investors in TriSalus shares. Nantahala Capital Management LLC has established a new position valued at approximately $10.9 million during the second quarter. AWM Investment Company Inc. also acquired a new stake worth around $6.81 million in the same period.
In the third quarter, Vanguard Group Inc. increased its holdings by 42.4%, now owning 1,159,575 shares valued at $5.39 million after purchasing an additional 345,186 shares. Furthermore, Gilder Gagnon Howe & Co. LLC expanded its holdings by 32.1%, owning 1,092,975 shares valued at $5.96 million. Lastly, Geode Capital Management LLC raised its position by 107.4%, now holding 455,051 shares worth $2.48 million. As of now, institutional investors hold 2.58% of TriSalus Life Sciences stock.
Company Profile
TriSalus Life Sciences is a clinical-stage biotechnology company focused on developing non-invasive drug-device combination therapies for oncology. Utilizing proprietary electroporation and ultrasound platforms, the company aims to enhance localized delivery and efficacy of established chemotherapeutic agents while minimizing systemic toxicity. Its lead programs target difficult-to-treat head and neck cancers, addressing significant unmet needs in tumor control and patient tolerability. The company’s pipeline includes investigational product candidates currently in early and mid-stage clinical trials, involving studies that combine its electrochemotherapy platform with radiation therapy and immuno-oncology agents.
With ongoing developments and analyst attention, TriSalus Life Sciences remains a subject of interest in the biotechnology sector.
