Canaccord Genuity Group Reaffirms “Buy” Rating for TriSalus Life Sciences (NASDAQ:TLSI)

TriSalus Life Sciences (NASDAQ:TLSI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity Group in a report released on Friday,Benzinga reports. They presently have a $11.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 95.73% from the company’s previous close.

TLSI has been the topic of several other reports. Lake Street Capital initiated coverage on TriSalus Life Sciences in a research note on Thursday, February 13th. They issued a “buy” rating and a $10.00 price objective on the stock. Roth Mkm reaffirmed a “buy” rating and set a $11.00 price target on shares of TriSalus Life Sciences in a research report on Friday, January 24th. Finally, Cantor Fitzgerald initiated coverage on shares of TriSalus Life Sciences in a research note on Tuesday, December 17th. They set an “overweight” rating and a $10.00 price objective for the company. Eight analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $11.56.

TriSalus Life Sciences Stock Performance

Shares of TLSI stock opened at $5.62 on Friday. The firm has a market capitalization of $171.37 million, a price-to-earnings ratio of -2.26 and a beta of 0.48. TriSalus Life Sciences has a one year low of $3.50 and a one year high of $10.42. The company has a 50 day moving average price of $5.40 and a 200 day moving average price of $4.73.

TriSalus Life Sciences (NASDAQ:TLSI) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). The firm had revenue of $8.26 million for the quarter, compared to analyst estimates of $8.12 million. As a group, equities analysts forecast that TriSalus Life Sciences will post -1.55 EPS for the current fiscal year.

Insider Activity

In other TriSalus Life Sciences news, insider Sean Murphy acquired 15,000 shares of the stock in a transaction on Monday, January 27th. The stock was purchased at an average price of $5.31 per share, for a total transaction of $79,650.00. Following the purchase, the insider now directly owns 182,732 shares in the company, valued at $970,306.92. This trade represents a 8.94 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James Emmett Young bought 24,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was acquired at an average cost of $5.40 per share, for a total transaction of $129,600.00. Following the completion of the transaction, the chief financial officer now owns 24,000 shares in the company, valued at $129,600. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 54,856 shares of company stock worth $294,608 over the last 90 days. Company insiders own 32.80% of the company’s stock.

Institutional Trading of TriSalus Life Sciences

A number of hedge funds have recently made changes to their positions in TLSI. Renaissance Technologies LLC acquired a new stake in TriSalus Life Sciences in the fourth quarter valued at $67,000. Walleye Capital LLC acquired a new stake in shares of TriSalus Life Sciences in the 3rd quarter valued at about $66,000. Virtu Financial LLC acquired a new stake in shares of TriSalus Life Sciences in the 3rd quarter valued at about $92,000. Vestcor Inc bought a new position in shares of TriSalus Life Sciences during the third quarter worth about $108,000. Finally, Connective Capital Management LLC acquired a new position in TriSalus Life Sciences in the fourth quarter worth about $140,000. Institutional investors and hedge funds own 2.58% of the company’s stock.

About TriSalus Life Sciences

TriSalus Life Sciences, Inc, a medical technology company, researches, develops, and sells drug delivery technologies and immune-oncology therapeutics for the treatment of liver and pancreatic cancer. The company offers Pressure Enabled Drug Delivery infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial, for locally advanced pancreatic cancer.