Pulse Biosciences (NASDAQ:PLSE) Sets New 1-Year High - Still a Buy?

Key Points

• Pulse Biosciences shares reached a new 52-week high of $50.90, trading around $49.32 and up modestly from the prior close. The stock’s market capitalization is approximately $3.41 billion.
• Analyst sentiment is generally positive but mixed: four analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $45.25. Needham issued the highest target at $58.
• The company remains unprofitable and missed quarterly expectations, reporting a loss of $0.36 per share versus the $0.29 consensus and revenue of $0.43 million versus $0.53 million expected. Institutional investors own nearly 77% of the shares, with major new stakes from BlackRock and Bank of America.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.90 and last traded at $49.3210, with a volume of 21355 shares traded. The stock had previously closed at $49.13.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PLSE. Mizuho set a $45.00 target price on Pulse Biosciences in a report on Monday, August 10th. Canaccord Genuity Group increased their price target on Pulse Biosciences from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Wall Street Zen downgraded Pulse Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Finally, Needham & Company LLC started coverage on Pulse Biosciences in a report on Monday, August 17th. They issued a "buy" rating and a $58.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $45.25.

Pulse Biosciences Stock Up 0.3%

The firm has a market cap of $3.41 billion, a P/E ratio of -41.58 and a beta of 1.61. The business's 50 day moving average is $33.55 and its two-hundred day moving average is $26.18.

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

Institutional Investors Weigh In On Pulse Biosciences

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Pulse Biosciences in the 2nd quarter valued at $40,672,000. Bank of America Corp DE acquired a new position in shares of Pulse Biosciences during the 2nd quarter valued at $40,115,000. California State Teachers Retirement System boosted its stake in Pulse Biosciences by 2,600.0% during the second quarter. California State Teachers Retirement System now owns 567,883 shares of the company's stock worth $15,747,000 after acquiring an additional 546,850 shares in the last quarter. Portolan Capital Management LLC bought a new position in Pulse Biosciences during the third quarter worth $1,809,000. Finally, Brooklyn Investment Group grew 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 during the period. 76.95% of the stock is currently owned by 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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