Pulse Biosciences (NASDAQ:PLSE) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Pulse Biosciences reported EPS of ($0.27), beating analysts' estimate of ($0.32) by $0.05 for the quarter.
• Insider Kevin Patrick Danahy sold 20,000 shares at an average of $23.53, part of 85,000 shares insiders sold in the past three months, while insiders still own about 74.60% of the company.
• Shares opened near $20.83 with a market cap around $1.42 billion, and analysts' consensus rating is a Hold with a $30 price target.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.32) by $0.05, Zacks reports.

Pulse Biosciences Stock Performance

Shares of PLSE opened at $20.83 on Monday. The firm has a market cap of $1.42 billion, a P/E ratio of -19.29 and a beta of 1.63. Pulse Biosciences has a 12 month low of $12.56 and a 12 month high of $26.30. The stock's 50 day moving average is $20.91 and its two-hundred day moving average is $17.55.

Insider Buying and Selling at Pulse Biosciences

In other news, insider Kevin Patrick Danahy sold 20,000 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $23.53, for a total transaction of $470,600.00. Following the transaction, the insider owned 43,298 shares in the company, valued at $1,018,801.94. This trade represents a 31.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 85,000 shares of company stock worth $1,994,400. Corporate insiders own 74.60% of the company's stock.

Hedge Funds Weigh In On Pulse Biosciences

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in Pulse Biosciences by 2.7% during the third quarter. Bank of America Corp DE now owns 804,960 shares of the company's stock valued at $14,248,000 after purchasing an additional 21,424 shares in the last quarter. State Street Corp increased its stake in shares of Pulse Biosciences by 6.0% during the fourth quarter. State Street Corp now owns 447,067 shares of the company's stock worth $6,138,000 after purchasing an additional 25,187 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Pulse Biosciences by 330.7% during the 4th 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 last quarter. Portolan Capital Management LLC acquired a new position in shares of Pulse Biosciences during the 3rd quarter worth about $1,809,000. Finally, UBS Group AG lifted its stake in Pulse Biosciences by 53.4% in the 3rd quarter. UBS Group AG now owns 76,856 shares of the company's stock valued at $1,360,000 after buying an additional 26,739 shares in the last quarter. 76.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PLSE shares. Mizuho set a $30.00 price objective on shares of Pulse Biosciences in a research note on Friday, February 6th. Oppenheimer reissued an "outperform" rating and set a $30.00 price target on shares of Pulse Biosciences in a report on Friday, February 20th. Wall Street Zen upgraded shares of Pulse Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Pulse Biosciences in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $30.00.

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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