TriSalus Life Sciences initiated with a Buy at JonesResearch

JonesResearch analyst Justin Walsh initiated coverage of TriSalus Life Sciences with a Buy rating and $16 price target. TriSalus is a biotech/medtech company focused on integrating localized drug delivery technology with novel therapeutic immuno-oncology agents in liver and pancreatic tumors, the analyst tells investors in a research note. The firm sees long-term growth potential with TriSalus’ device offerings, but believes the greatest value driver will be SD-101. Phase I data readouts from multiple ongoing trials are expected through 2024 and into 2025, providing key catalysts above and beyond quarterly sales numbers, says the analyst.