Needham & Company LLC Initiates Coverage on Pulse Biosciences (NASDAQ:PLSE)

Key Points

• Needham initiated coverage of Pulse Biosciences with a “Buy” rating and a $58 price target, implying approximately 30.22% upside from the reported share price.
• Analyst sentiment is mixed but broadly positive: four analysts rate the stock Buy and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $45.25.
• Pulse Biosciences missed quarterly expectations, reporting an adjusted loss of $0.36 per share versus the $0.29 consensus estimate and revenue of $0.43 million versus $0.53 million expected; institutional investors own about 76.95% of shares.

Equities research analysts at Needham & Company LLC initiated coverage on shares of Pulse Biosciences (NASDAQ:PLSE - Get Free Report) in a research note issued on Monday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $58.00 price target on the stock. Needham & Company LLC's price objective points to a potential upside of 30.22% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Pulse Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Oppenheimer reaffirmed an "outperform" rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Friday, July 17th. Mizuho set a $45.00 target price on Pulse Biosciences in a report on Monday, August 10th. Finally, Canaccord Genuity Group upped their target price on Pulse Biosciences from $32.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Pulse Biosciences has a consensus rating of "Moderate Buy" and a consensus price target of $45.25.

Pulse Biosciences Stock Performance

PLSE stock opened at $44.54 on Monday. Pulse Biosciences has a twelve month low of $12.56 and a twelve month high of $46.97. The company's 50 day moving average is $30.86 and its two-hundred day moving average is $24.74. The stock has a market cap of $3.08 billion, a P/E ratio of -37.75 and a beta of 1.61.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 94.42% and a negative net margin of 6,755.78%.The company had revenue of $0.43 million for the quarter, compared to analysts' expectations of $0.53 million. On average, equities research analysts predict that Pulse Biosciences will post -1.29 earnings per share for the current year.

Institutional Trading of Pulse Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of Pulse Biosciences in the 1st quarter valued at approximately $323,000. Creative Planning lifted its holdings in shares of Pulse Biosciences by 26.3% during the second quarter. Creative Planning now owns 18,971 shares of the company's stock worth $286,000 after purchasing an additional 3,951 shares during the period. Legal & General Group Plc lifted its holdings in shares of Pulse Biosciences by 57.7% during the second quarter. Legal & General Group Plc now owns 22,415 shares of the company's stock worth $338,000 after purchasing an additional 8,197 shares during the period. Norges Bank purchased a new position in Pulse Biosciences in the 2nd quarter valued at $302,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Pulse Biosciences in the 2nd quarter valued at $158,000. 76.95% of the stock is owned by hedge funds and other institutional investors.

About Pulse Biosciences

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source