Pulse Biosciences (NASDAQ:PLSE) Price Target Raised to $64.00

Key Points

• Needham raised its price target on Pulse Biosciences from $58 to $64 and maintained a Buy rating, implying 20.6% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a consensus Moderate Buy rating and an average price target of $61.40, though one analyst rates it Sell.
• Pulse Biosciences slightly missed quarterly earnings expectations, reporting a loss of $0.32 per share versus estimates of $0.31; revenue of $0.40 million was down 54.1% year over year.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) had its price target boosted by analysts at Needham & Company LLC from $58.00 to $64.00 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 20.60% from the stock's previous close.

A number of other research analysts have also weighed in on PLSE. Oppenheimer raised their target price on shares of Pulse Biosciences from $35.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 13th. Canaccord Genuity Group boosted their target price on Pulse Biosciences from $43.00 to $58.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. BTIG Research started coverage on Pulse Biosciences in a research report on Wednesday, September 23rd. They issued a "buy" rating and a $70.00 price target for the company. Freedom Capital raised Pulse Biosciences to a "strong-buy" rating in a report on Wednesday, September 9th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $61.40.

Pulse Biosciences Price Performance

NASDAQ:PLSE opened at $53.07 on Friday. The company's 50-day moving average price is $51.45 and its 200-day moving average price is $32.08. Pulse Biosciences has a twelve month low of $12.56 and a twelve month high of $58.90.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.01). Pulse Biosciences had a negative return on equity of 94.42% and a negative net margin of 6,755.78%. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.52 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The business's revenue was down 54.1% compared to the same quarter last year. On average, research analysts expect that Pulse Biosciences will post -1.34 earnings per share for the current year.

Insider Activity

In other news, COO Liane Teplitsky acquired 1,001 shares of the business's stock in a transaction that occurred on Tuesday, September 1st. The stock was purchased at an average cost of $49.95 per share, for a total transaction of $49,999.95. Following the completion of the transaction, the chief operating officer owned 4,095 shares in the company, valued at approximately $204,545.25. This trade represents a 32.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 4,095 shares of company stock valued at $199,931 over the last ninety days. Corporate insiders own 74.00% of the company's stock.

Hedge Funds Weigh In On Pulse Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC raised its position in shares of Pulse Biosciences by 844.6% during the 3rd quarter. Sterling Capital Management LLC now owns 614 shares of the company's stock valued at $31,000 after buying an additional 549 shares during the period. Bender Robert & Associates acquired a new position in Pulse Biosciences in the third quarter valued at approximately $379,000. Axxcess Wealth Management LLC acquired a new position in Pulse Biosciences in the third quarter valued at approximately $242,000. Formula Growth Ltd. purchased a new position in Pulse Biosciences in the second quarter worth approximately $832,000. Finally, Panoramic Capital LLC purchased a new position in Pulse Biosciences in the second quarter worth approximately $2,719,000. 76.95% of the stock is currently owned by institutional investors and hedge funds.

About Pulse Biosciences

Pulse Biosciences, Inc NASDAQ: PLSE is a medical technology company developing bioelectric therapies based on its Nano-Pulse Stimulation (NPS) technology. The technology uses short, high-voltage electrical pulses to create temporary openings in cell membranes, with the goal of selectively affecting targeted cells while limiting thermal damage to surrounding tissue.

The company's principal product is the CellFX System, a device designed to deliver NPS treatments for certain dermatologic conditions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.