Pulse Biosciences (NASDAQ:PLSE) Hits New 12-Month High - Still a Buy?

Key Points

• Pulse Biosciences reached a new 52-week high of $51, with a market capitalization of approximately $3.45 billion. The stock’s 50-day and 200-day moving averages were $35.87 and $27.21, respectively.
• Analyst sentiment is broadly positive, with four Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $45.25. Recent targets include $58 from Needham and $43 from Canaccord Genuity.
• The company remains unprofitable and missed its latest quarterly estimates, reporting a loss of $0.36 per share versus expectations of $0.29 and revenue of $0.43 million versus $0.53 million expected. Insiders own 74% of the stock, while institutional investors hold 76.95%.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.00 and last traded at $50.1640, with a volume of 14790 shares. The stock had previously closed at $50.33.

Analyst Ratings Changes

PLSE has been the subject of a number of recent analyst reports. Wall Street Zen raised Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Mizuho set a $45.00 target price on shares of Pulse Biosciences in a research note on Monday, August 10th. Needham & Company LLC started coverage on shares of Pulse Biosciences in a research note on Monday, August 17th. They set a "buy" rating and a $58.00 price target on the stock. Finally, Canaccord Genuity Group lifted their price objective on shares of Pulse Biosciences from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.25.

Pulse Biosciences Stock Down 1.0%

The stock has a market cap of $3.45 billion, a PE ratio of -42.43 and a beta of 1.61. The business has a 50 day moving average price of $35.87 and a 200 day moving average price of $27.21.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.53 million. Pulse Biosciences had a negative return on equity of 94.42% and a negative net margin of 6,755.78%. On average, research analysts predict that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Liane Rae Teplitsky purchased 1,036 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average cost of $48.23 per share, with a total value of $49,966.28. Following the completion of the acquisition, the chief operating officer owned 1,036 shares of the company's stock, valued at approximately $49,966.28. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 74.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Pulse Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in Pulse Biosciences by 2,600.0% in the second quarter. California State Teachers Retirement System now owns 567,883 shares of the company's stock valued at $15,747,000 after buying an additional 546,850 shares in the last quarter. Formula Growth Ltd. purchased a new stake in shares of Pulse Biosciences during the 2nd quarter worth about $832,000. Panoramic Capital LLC acquired a new stake in shares of Pulse Biosciences during the 2nd quarter valued at about $2,719,000. Bank of America Corp DE acquired a new stake in shares of Pulse Biosciences during the 2nd quarter valued at about $40,115,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Pulse Biosciences during the 2nd quarter valued at about $241,000. Institutional investors and hedge funds own 76.95% of the company's stock.

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.

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