Analyst William Plovanic of Canaccord Genuity maintained a Buy rating on TriSalus Life Sciences, retaining the price target of $11.00.
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William Plovanic has given his Buy rating due to a combination of factors that highlight TriSalus Life Sciences’ promising market opportunities and innovative technology. The company’s webcast showcased its TriNav catheter, which is being effectively used in uterine fibroid embolization, demonstrating its potential beyond its core focus on liver-related treatments. This expansion into uterine fibroid embolization, along with other potential applications, contributes to a significant total addressable market estimated at approximately $2.5 billion annually in the US.
Furthermore, the feedback from key opinion leaders (KOLs) during the webcast was overwhelmingly positive, indicating strong acceptance of TriNav’s premium-priced technology. The KOLs emphasized the catheter’s efficiency and flexibility, which enhance the embolization procedures. Additionally, uterine artery embolization offers a cost-effective and less invasive alternative to hysterectomy, which could drive greater adoption. These factors collectively support Plovanic’s optimistic outlook on TriSalus Life Sciences’ growth potential, justifying the Buy rating.
In another report released on November 10, Lake Street also reiterated a Buy rating on the stock with a $10.00 price target.