Canaccord Genuity Group Issues Positive Forecast for Pulse Biosciences (NASDAQ:PLSE) Stock Price

Key Points

• Canaccord Genuity raised Pulse Biosciences’ price target to $43 from $32 and maintained a “Buy” rating. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $36 average target.
• Pulse Biosciences reported weaker-than-expected quarterly results, posting a $0.36 per-share loss versus the $0.29 expected and revenue of $0.43 million versus the $0.53 million consensus.
• Institutional ownership remains substantial at 76.95%, with BlackRock initiating a $40.7 million position and other major investors increasing their stakes.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) had its price objective boosted by stock analysts at Canaccord Genuity Group from $32.00 to $43.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 1.39% from the stock's current price.

PLSE has been the topic of several other reports. Wall Street Zen downgraded Pulse Biosciences from a "hold" rating to a "sell" rating in a report on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Finally, Oppenheimer restated an "outperform" rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.00.

Pulse Biosciences Price Performance

Shares of PLSE stock opened at $42.41 on Monday. The company has a market capitalization of $2.94 billion, a P/E ratio of -35.94 and a beta of 1.61. The company's 50-day simple moving average is $29.01 and its two-hundred day simple moving average is $23.71. Pulse Biosciences has a one year low of $12.56 and a one year high of $45.90.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 100.22%. The company had revenue of $0.43 million for the quarter, compared to the consensus estimate of $0.53 million. On average, research analysts expect that Pulse Biosciences will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PLSE. BlackRock Inc. purchased a new stake in shares of Pulse Biosciences during the 2nd quarter worth $40,672,000. Bank of America Corp DE grew its stake in Pulse Biosciences by 8.2% in the first quarter. Bank of America Corp DE now owns 866,061 shares of the company's stock valued at $18,698,000 after purchasing an additional 65,884 shares during the last quarter. State Street Corp grew its stake in Pulse Biosciences by 6.0% in the fourth quarter. State Street Corp now owns 447,067 shares of the company's stock valued at $6,138,000 after purchasing an additional 25,187 shares during the last quarter. Brooklyn Investment Group raised its holdings in Pulse Biosciences by 330.7% in the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company's stock worth $1,844,000 after purchasing an additional 100,081 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in Pulse Biosciences in the third quarter worth about $1,809,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.

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