Jason McCarthy, an analyst from Maxim Group, reiterated the Buy rating on TriSalus Life Sciences. The associated price target is $16.00.
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Jason McCarthy’s rating is based on TriSalus Life Sciences’ strong financial performance and strategic initiatives. The company reported significant revenue growth in the third quarter of 2025, with TriNav system sales reaching $11.6 million, reflecting a 57% year-over-year increase. This growth is attributed to the expanding use of the TriNav system in liver-directed procedures and broader adoption in interventional radiology. The company has reaffirmed its guidance for at least 50% revenue growth in 2025, indicating sustained commercial momentum.
Additionally, TriSalus has demonstrated improved operational efficiency, reducing its quarterly cash burn by approximately 50%. Although gross margins have slightly decreased due to the launch of the TriNav FLX infusion system, they are expected to improve as production scales. The company’s strategic focus on expanding the TriNav portfolio and customer adoption is anticipated to lead to cash flow breakeven by mid-2026. These factors, along with a solid cash position, underpin McCarthy’s Buy rating on the stock.
In another report released on November 14, Lake Street also reiterated a Buy rating on the stock with a $10.00 price target.