Pulse Biosciences (NASDAQ:PLSE) Hits New 1-Year High Following Analyst Upgrade

Key Points

• Pulse Biosciences hit a 52-week high after Canaccord Genuity raised its price target from $58 to $74 and maintained a Buy rating; shares traded as high as $58.94.
• Analyst views are mostly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $66.60, though one analyst rates the stock Sell.
• The company’s latest quarter fell short of expectations, posting a loss of $0.32 per share versus estimates of $0.31 and revenue of $0.40 million versus $0.52 million; revenue declined 54.1% year over year.

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) reached a new 52-week high during mid-day trading on Monday after Canaccord Genuity Group raised their price target on the stock from $58.00 to $74.00. Canaccord Genuity Group currently has a buy rating on the stock. Pulse Biosciences traded as high as $58.94 and last traded at $56.8660, with a volume of 65,842 shares changing hands. The stock had previously closed at $53.29.

Several other brokerages also recently commented on PLSE. Mizuho set a $65.00 target price on Pulse Biosciences in a research note on Friday. Wall Street Zen raised shares of Pulse Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, September 6th. BTIG Research started coverage on Pulse Biosciences in a research note on Wednesday, September 23rd. They issued a "buy" rating and a $70.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pulse Biosciences in a report on Thursday, October 15th. Finally, Freedom Capital raised shares of Pulse Biosciences to a "strong-buy" rating in a report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.60.

Insider Buying and Selling

In related news, COO Liane Teplitsky acquired 1,036 shares of the firm's stock in a transaction that occurred on Wednesday, August 26th. The stock was bought at an average price of $48.23 per share, for a total transaction of $49,966.28. Following the acquisition, the chief operating officer directly owned 1,036 shares of the company's stock, valued at $49,966.28. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 4,095 shares of company stock valued at $199,931. Company insiders own 74.00% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Osterweis Capital Management Inc. purchased a new position in shares of Pulse Biosciences in the second quarter worth $28,000. Sterling Capital Management LLC grew its holdings in Pulse Biosciences by 844.6% during the third quarter. Sterling Capital Management LLC now owns 614 shares of the company's stock worth $31,000 after acquiring an additional 549 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Pulse Biosciences during the 2nd quarter worth approximately $241,000. Axxcess Wealth Management LLC purchased a new position in Pulse Biosciences in the third quarter valued at $242,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Pulse Biosciences in the 2nd quarter valued at about $290,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

Pulse Biosciences Price Performance

The firm has a fifty day simple moving average of $51.55 and a 200 day simple moving average of $32.28. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of -47.17 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.01). The business had revenue of $0.40 million during the quarter, compared to analysts' expectations of $0.52 million. Pulse Biosciences had a negative net margin of 5,603.88% and a negative return on equity of 101.91%. The firm's quarterly revenue was down 54.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share. Research analysts predict that Pulse Biosciences, Inc will post -1.34 EPS for the current year.

Pulse Biosciences Company Profile

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.