Pulse Biosciences (NASDAQ:PLSE) Stock Jumps 6.2% - Still a Buy?

Key Points

• Pulse Biosciences shares rose 6.2% to about $47.18, although trading volume was 64% below the average daily level. The stock has a $3.34 billion market capitalization and trades below its 50-day moving average of $49.82.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $60.20. Recent targets range from $58 to $70, though Weiss Ratings maintained a sell rating.
• The company continues to report weak financial results, including a quarterly loss of $0.36 per share versus the expected $0.29 loss and revenue of $0.43 million versus the $0.53 million estimate. Pulse Biosciences is developing Nano-Pulse Stimulation technology, including its CellFX dermatology system.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) shares were up 6.2% during mid-day trading on Monday. The stock traded as high as $47.61 and last traded at $47.1770. Approximately 139,102 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 390,397 shares. The stock had previously closed at $44.43.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BTIG Research started coverage on shares of Pulse Biosciences in a research report on Wednesday, September 23rd. They set a "buy" rating and a $70.00 price objective for the company. Wall Street Zen upgraded shares of Pulse Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, September 6th. Canaccord Genuity Group boosted their price target on shares of Pulse Biosciences from $43.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, October 6th. Needham & Company LLC began coverage on shares of Pulse Biosciences in a research report on Monday, August 17th. They issued a "buy" rating and a $58.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.20.

Pulse Biosciences Trading Up 6.1%

The stock's 50 day moving average price is $49.82 and its two-hundred day moving average price is $34.43. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of -39.95 and a beta of 1.57.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last issued its 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 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 analyst estimates of $0.53 million. On average, sell-side analysts forecast that Pulse Biosciences, Inc will post -1.34 earnings per share for the current fiscal year.

Insider Activity at Pulse Biosciences

In other news, COO Liane Teplitsky purchased 1,001 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average price of $49.95 per share, for a total transaction of $49,999.95. Following the acquisition, the chief operating officer directly owned 4,095 shares in the company, valued at approximately $204,545.25. The trade was a 32.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 4,095 shares of company stock worth $199,931. 74.00% of the stock is owned by insiders.

Institutional Trading of Pulse Biosciences

A number of institutional investors have recently bought and sold shares of the company. Osterweis Capital Management Inc. purchased a new position in shares of Pulse Biosciences in the second quarter valued at $28,000. Jupiter Topco LLC purchased a new position in Pulse Biosciences during the 2nd quarter valued at about $241,000. GSA Capital Partners LLP acquired a new position in Pulse Biosciences during the second quarter worth about $290,000. Legal & General Group Plc acquired a new position in Pulse Biosciences during the second quarter worth about $395,000. Finally, Cetera Investment Advisers acquired a new position in Pulse Biosciences during the first quarter worth about $387,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc is a medical technology company developing bioelectric therapies based on its proprietary Nano-Pulse Stimulation (NPS) technology. The platform delivers short, nonthermal electrical pulses that temporarily affect cell membranes and are designed to selectively target unwanted cells while preserving surrounding tissue.

The company's lead commercial product is the CellFX System, a dermatology platform designed to treat certain benign skin lesions and other dermatologic conditions using NPS technology.

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