Pulse Biosciences (NASDAQ:PLSE) Hits New 52-Week High - Time to Buy?

Key Points

• Pulse Biosciences shares reached a new 52-week high of $37.53, giving the company a market capitalization of approximately $2.60 billion. The stock is trading well above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with three Buy ratings and one Sell rating producing a “Moderate Buy” consensus. However, the average price target of $32.33 is below the current share price.
• Insider and institutional ownership is substantial: insiders own 74% of shares, while institutions hold 76.95%. Director Robert Duggan and CEO Paul Laviolette both purchased shares in May, while the company continues developing its CellFX system and NanoPulse Stimulation technology.

Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $37.53 and last traded at $37.4220, with a volume of 39007 shares changing hands. The stock had previously closed at $35.13.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PLSE shares. Canaccord Genuity Group started coverage on Pulse Biosciences in a report on Thursday, June 4th. They set a "buy" rating and a $32.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Pulse Biosciences in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Pulse Biosciences has an average rating of "Moderate Buy" and a consensus price target of $32.33.

Pulse Biosciences Price Performance

The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -33.96 and a beta of 1.61. The stock's 50 day simple moving average is $27.65 and its 200-day simple moving average is $22.84.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.25 million. As a group, equities research analysts anticipate that Pulse Biosciences, Inc will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Pulse Biosciences

In other Pulse Biosciences news, Director Robert W. Duggan bought 660,233 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $19.69 per share, with a total value of $12,999,987.77. Following the completion of the transaction, the director directly owned 48,211,433 shares of the company's stock, valued at $949,283,115.77. This represents a 1.39% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Paul A. Laviolette bought 15,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were bought at an average price of $19.69 per share, for a total transaction of $295,350.00. Following the completion of the acquisition, the chief executive officer owned 15,000 shares of the company's stock, valued at approximately $295,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 74.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLSE. Bank of America Corp DE lifted its holdings in Pulse Biosciences by 8.2% in the 1st quarter. Bank of America Corp DE now owns 866,061 shares of the company's stock worth $18,698,000 after purchasing an additional 65,884 shares during the last quarter. State Street Corp boosted its position in 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 during the period. Brooklyn Investment Group grew its holdings in Pulse Biosciences by 330.7% during the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company's stock valued at $1,844,000 after purchasing an additional 100,081 shares during the last quarter. Portolan Capital Management LLC acquired a new position in Pulse Biosciences during the third quarter valued at approximately $1,809,000. Finally, UBS Group AG grew its holdings in Pulse Biosciences by 53.4% during the third quarter. UBS Group AG now owns 76,856 shares of the company's stock valued at $1,360,000 after purchasing an additional 26,739 shares during the last quarter. Institutional investors and hedge funds own 76.95% of the company's stock.

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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