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

Key Points

• Pulse Biosciences hit a new 52-week high, trading as high as $31.70, after rising about 8.6% in the session.
• Wall Street sentiment is mixed but generally positive: Canaccord Genuity started coverage with a Buy and $32 target, while the broader consensus sits at Moderate Buy with a $30.67 target.
• The company recently reported a smaller-than-expected quarterly loss and stronger revenue than forecast, and insider buying was notable, including a large purchase by director Robert W. Duggan and shares bought by CEO Paul A. Laviolette.

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.70 and last traded at $31.7290, with a volume of 69954 shares trading hands. The stock had previously closed at $30.26.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLSE. Weiss Ratings reissued a "sell (d-)" rating on shares of Pulse Biosciences in a research note on Friday. Canaccord Genuity Group began coverage on Pulse Biosciences in a report on Thursday, June 4th. They set a "buy" rating and a $32.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

Pulse Biosciences Trading Up 8.6%

The company's 50-day simple moving average is $26.39 and its 200 day simple moving average is $21.78. The stock has a market cap of $2.27 billion, a P/E ratio of -29.73 and a beta of 1.65.

Pulse Biosciences (NASDAQ:PLSE - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.05. The business had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.25 million. 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 dated Monday, May 11th. The shares were bought at an average cost of $19.69 per share, for a total transaction of $12,999,987.77. Following the purchase, the director directly owned 48,211,433 shares of the company's stock, valued at approximately $949,283,115.77. This trade represents a 1.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul A. Laviolette acquired 15,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $19.69 per share, with a total value of $295,350.00. Following the acquisition, the chief executive officer directly owned 15,000 shares of the company's stock, valued at $295,350. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 74.00% of the company's stock.

Hedge Funds Weigh In On Pulse Biosciences

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in shares of Pulse Biosciences by 63.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company's stock valued at $26,000 after buying an additional 680 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Pulse Biosciences by 275.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company's stock worth $44,000 after purchasing an additional 2,156 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Pulse Biosciences by 13.8% in the fourth quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company's stock worth $70,000 after purchasing an additional 619 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Pulse Biosciences in the second quarter worth about $158,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Pulse Biosciences in the second quarter valued at approximately $215,000. Hedge funds and other institutional investors 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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