TriSalus Life Sciences (NASDAQ:TLSI) saw its target price increased from $11.00 to $12.00 by Canaccord Genuity Group in a research note published on November 28, 2023. This adjustment reflects a strong buy rating on the stock, indicating positive sentiment from analysts.
The stock has been the subject of various evaluations recently. Wall Street Zen upgraded TriSalus from a “sell” to a “hold” rating, while Weiss Ratings reaffirmed a “sell (D-)” rating. Currently, three analysts have assigned a buy rating, one has a hold rating, and one has a sell rating. According to data from MarketBeat, the consensus rating for TriSalus remains at “hold,” with a consensus price target of $11.00.
Recent Financial Performance
TriSalus Life Sciences reported its quarterly earnings on November 13, 2023. The company posted an earnings per share (EPS) of ($0.96), missing analyst estimates of ($0.17) by $0.79. Revenue for the quarter stood at $11.57 million, slightly below the anticipated $11.76 million. Analysts predict an EPS of ($1.55) for the current year, indicating ongoing financial challenges.
Institutional Investment Activity
Institutional investors have been actively adjusting their positions in TriSalus Life Sciences. Notably, Nantahala Capital Management LLC increased its stake by 2.0% in the third quarter, now holding 2,040,245 shares valued at approximately $9.5 million. Millennium Management LLC also raised its holdings by 17.7%, owning 35,612 shares worth about $166,000.
Other significant moves include Squarepoint Ops LLC, which acquired a new position valued at approximately $343,000, and White Pine Capital LLC, which added a stake worth around $278,000. Additionally, Vanguard Group Inc. expanded its holdings by 42.4%, now controlling 1,159,575 shares valued at about $5.39 million. Currently, institutional investors hold 2.58% of the company’s stock.
TriSalus Life Sciences is a clinical-stage biotechnology firm dedicated to developing non-invasive drug-device combination therapies focused on oncology. The company aims to enhance the delivery and effectiveness of established chemotherapeutic agents while reducing systemic toxicity. Its primary programs target hard-to-treat head and neck cancers, addressing significant unmet medical needs in tumor control and patient tolerability.
As TriSalus Life Sciences navigates its financial landscape, the reactions from analysts and institutional investors will be crucial in shaping its future trajectory in the competitive biotechnology sector.
