TriSalus Life Sciences (TLSI – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group reiterated a Buy rating on the stock and has a $16.00 price target.
Jason McCarthy has given his Buy rating due to a combination of factors that highlight TriSalus Life Sciences’ strong financial performance and promising future prospects. The company reported a significant increase in revenue for the fourth quarter of 2024, with TriNav sales up by 44% year-over-year and 12% sequentially. This growth is expected to continue, as TriSalus has reaffirmed its guidance for more than 50% revenue growth in 2025, supported by the launch of TriNav Large Vessel and a new CMS HCPCS code that should enhance the adoption of their TriNav Infusion System.
Additionally, TriSalus has a solid financial position with sufficient cash reserves and access to a credit facility, providing them with runway through 2025. The company anticipates achieving positive EBITDA and cash flow in the second half of 2025, driven by increased market share and improved gross margins expected to exceed 87%. Furthermore, operating expenses are projected to decrease by more than 20% due to reductions in R&D and G&A expenses. These factors collectively underpin McCarthy’s confidence in TriSalus’ ability to deliver strong financial results and justify the Buy rating.
In another report released yesterday, Roth MKM also reiterated a Buy rating on the stock with a $11.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TLSI in relation to earlier this year.