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On Monday, Cantor Fitzgerald reiterated its Overweight rating on TriSalus Life Sciences, Inc. (NASDAQ:TLSI), currently trading at $5.39, with a steady price target of $9.00. The $186 million market cap company has received strong backing from analysts, with a consensus recommendation of 1.25 (Strong Buy). The affirmation came following TriSalus’s announcement last Thursday about the launch of its TriNav FLX Infusion System, which marks an advancement in the company’s Pressure-Enabled Drug Delivery (PEDD) technology. According to InvestingPro data, the stock has shown impressive momentum with a 29% gain over the past six months.
The TriNav FLX Infusion System is designed to offer improved navigation through complex vascular structures, featuring a more flexible distal end. According to the company, this flexibility facilitates better trackability and ease of use within the body’s tortuous vessels. In comparison to the standard TriNav device, the new system has shown a significant 28% reduction in the force required for navigation during benchtop testing.
This latest innovation by TriSalus is also accompanied by financial incentives for healthcare providers, as it qualifies for reimbursement under two Healthcare Common Procedure Coding System (HCPCS) codes. These codes, C8004 for mapping and C9797 for treatment procedures, ensure that the use of the TriNav FLX Infusion System is covered under existing reimbursement frameworks, potentially encouraging its adoption in clinical settings. InvestingPro analysis shows the company maintains a healthy current ratio of 2.14, indicating strong ability to meet short-term obligations, though it’s currently burning through cash with negative free cash flow of $41.2 million.
The Overweight rating indicates that Cantor Fitzgerald’s analysts see TriSalus’s stock performing better than the average return of stocks in the analyst’s coverage universe over the next 12 to 18 months. The $9.00 price target suggests a strong confidence in the company’s growth prospects and the expected positive impact of the new product on the company’s financial performance.
TriSalus Life Sciences is focused on integrating drug and device therapy to improve the treatment of advanced solid tumors and continues to innovate in the field of drug delivery systems. The launch of the TriNav FLX Infusion System represents the company’s ongoing commitment to enhancing the efficacy of treatment options available to oncologists and patients alike. InvestingPro data reveals impressive revenue growth of 46.2% in the last twelve months, though analysts anticipate continued losses this year. For deeper insights into TLSI’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, TriSalus Life Sciences reported first-quarter 2025 revenues of $9.2 million, marking a 42% increase year-over-year. This growth was primarily driven by increased utilization of the company’s TriNav system, which accounted for all revenue during the quarter. Despite this revenue growth, the gross margin saw a slight decline, dropping by 100 basis points to approximately 84%, due to a temporary reduction in product output linked to facility expansion. The company also announced the appointment of David B. Patience as the new Chief Financial Officer, effective July 1, 2025, following the departure of James Young for personal reasons. During this transition, Dan Giordano will serve as Acting CFO. Additionally, TriSalus successfully raised $22 million in gross proceeds through a private placement to bolster its financial position and support operational goals. Cantor Fitzgerald maintained its Overweight rating on TriSalus, with a steady price target of $9.00, reflecting continued confidence in the company’s future prospects. The company’s leadership expressed optimism about future growth, anticipating at least 50% revenue growth in 2025, driven by new product launches and market expansions.
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