Pulse Biosciences (NASDAQ:PLSE) Stock Gets Price Target Bump from Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on Pulse Biosciences from $58 to $74 and reiterated a Buy rating, implying 42.42% upside from the prior close. The consensus rating is Moderate Buy, with an average target of $66.60.
• Third-quarter results missed expectations: revenue was $400,000, down 54.1% year over year and below analyst estimates, while the per-share loss of $0.32 was slightly wider than forecast.
• Clinical and business updates offered some positive momentum: interim thyroid-study results were described as positive, and the company completed enrollment in its U.S. pivotal IDE study three months early.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) had its price target hoisted by Canaccord Genuity Group from $58.00 to $74.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 42.42% from the stock's previous close.

Several other research firms have also commented on PLSE. Weiss Ratings reissued a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Thursday, October 15th. Freedom Capital raised shares of Pulse Biosciences to a "strong-buy" rating in a research note on Wednesday, September 9th. Needham & Company LLC increased their target price on shares of Pulse Biosciences from $58.00 to $64.00 and gave the stock a "buy" rating in a report on Friday. Oppenheimer increased their target price on shares of Pulse Biosciences from $35.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, October 13th. Finally, Wall Street Zen raised shares of Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, September 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Pulse Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.60.

Pulse Biosciences Price Performance

Shares of PLSE stock traded down $1.11 on Friday, hitting $51.96. The stock had a trading volume of 255,516 shares, compared to its average volume of 390,012. The firm has a market capitalization of $3.68 billion, a P/E ratio of -44.20 and a beta of 1.65. Pulse Biosciences has a 1 year low of $12.56 and a 1 year high of $58.90. The company's 50 day moving average price is $51.45 and its 200-day moving average price is $32.08.

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

Insiders Place Their Bets

In related news, COO Liane Teplitsky purchased 1,001 shares of Pulse Biosciences stock in a transaction on Tuesday, September 1st. The shares were bought at an average price of $49.95 per share, with a total value of $49,999.95. Following the transaction, the chief operating officer directly owned 4,095 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 4,095 shares of company stock worth $199,931. 74.00% of the stock is owned by corporate insiders.

Institutional Trading of Pulse Biosciences

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

Key Stories Impacting Pulse Biosciences

Here are the key news stories impacting Pulse Biosciences this week:

• Positive Sentiment: Six-month interim results from the PRECISE-BTN study of the company’s nanosecond pulsed field ablation (nsPFA) treatment were described as positive, adding support for its thyroid-treatment program. Article: Pulse Biosciences' NsPFA Treatment Shows Positive Six-Month Thyroid Study Results
• Positive Sentiment: Needham raised its price target to $64 from $58 and maintained a Buy rating, signaling greater analyst optimism. The company also said it completed enrollment in its U.S. pivotal IDE study three months ahead of schedule. Needham & Company recommendations Business updates and third-quarter results
• Negative Sentiment: Q3 revenue was $400,000, below the roughly $521,000 analyst estimate and down 54.1% year over year. The $0.32-per-share loss was also slightly wider than the $0.31 consensus cited in the earnings report, highlighting limited current revenue and continued losses. Article: Pulse Biosciences Reports Q3 Loss, Misses Revenue Estimates
• Negative Sentiment: Management expects quarterly non-GAAP expenses to rise 15%–25% and is targeting CE Mark approval in Q4 2027. The spending outlook could weigh on near-term profitability, while the regulatory timeline indicates commercialization remains some distance away. Article: Expense outlook and CE Mark target

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.

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