William Plovanic, an analyst from Canaccord Genuity, maintained the Buy rating on TriSalus Life Sciences. The associated price target remains the same with $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 growth trajectory. The company reported a significant revenue beat in Q2, achieving $11.2 million compared to the consensus estimate of $10.7 million, which underscores the strong market adoption of their TriNav products. This growth is further supported by the expansion of their salesforce and the addition of 31 unique accounts in the quarter, indicating a robust demand for their offerings.
Moreover, TriSalus has broadened its product portfolio with the launch of TriNav FLX and Large, which are expected to address diverse clinical needs and drive future revenue streams. The activation of a new mapping HCPCS code is anticipated to enhance revenue potential by enabling reimbursement for pre-procedure simulations. Despite some near-term pressure on gross margins due to new product launches, the company’s reaffirmed guidance of over 50% year-over-year revenue growth and projected adjusted EBITDA profitability by 2026 provide a strong foundation for long-term success.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $10.00 price target.
TLSI’s price has also changed moderately for the past six months – from $5.610 to $3.650, which is a -34.94% drop .