Canaccord Genuity analyst William Plovanic has reiterated their bullish stance on TLSI stock, giving a Buy rating yesterday.
William Plovanic’s rating is based on TriSalus Life Sciences’ strategic initiatives and financial outlook. The company has shown promising growth prospects by delivering in-line revenue for Q4/24 and maintaining a strong revenue guidance for 2025, with expectations of over 50% growth. This growth is anticipated to be driven by new accounts, product launches, and enhanced reimbursement strategies, particularly with the new CMS HCPCS code that could significantly impact revenue from the Medicare population.
Furthermore, TriSalus is advancing its drug program, with clinical data for Nelitolimod in advanced liver cancer expected in Q3/25, and is actively seeking partnerships to expand its indications. The company’s focus on expanding its market through physician-led trials and its goal to achieve EBITDA and cash flow positivity by the second half of 2025 further support the Buy rating. These factors, combined with the removal of a previous discount to the comp group, underpin Plovanic’s confidence in the company’s potential for profitable growth.
Plovanic covers the Healthcare sector, focusing on stocks such as TransMedics Group, CVRx, and Atricure. According to TipRanks, Plovanic has an average return of 2.6% and a 44.27% success rate on recommended stocks.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $11.00 price target.