Pulse Biosciences (NASDAQ:PLSE) Hits New 12-Month High After Analyst Upgrade

Pulse Biosciences, Inc (NASDAQ:PLSE)’s stock price hit a new 52-week high during mid-day trading on Thursday after Freedom Capmkts upgraded the stock to a strong-buy rating. The company traded as high as $58.90 and last traded at $52.97, with a volume of 1560345 shares changing hands. The stock had previously closed at $48.79.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group raised their price objective on Pulse Biosciences from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Friday, July 17th. Needham & Company LLC assumed coverage on shares of Pulse Biosciences in a report on Monday, August 17th. They issued a “buy” rating and a $58.00 price target on the stock. Mizuho set a $45.00 price target on shares of Pulse Biosciences in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, September 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Pulse Biosciences has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Insider Transactions at Pulse Biosciences

In other Pulse Biosciences news, COO Liane Teplitsky purchased 1,036 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was bought at an average cost of $48.23 per share, for a total transaction of $49,966.28. Following the completion of the purchase, the chief operating officer owned 1,036 shares in the company, valued at $49,966.28. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 4,095 shares of company stock worth $199,931. Corporate insiders own 74.00% of the company’s stock.

Hedge Funds Weigh In On Pulse Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in Pulse Biosciences by 63.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after purchasing an additional 680 shares during the last quarter. Osterweis Capital Management Inc. acquired a new position in Pulse Biosciences during the 2nd quarter valued at approximately $28,000. Tower Research Capital LLC TRC raised its holdings in shares of Pulse Biosciences by 275.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock worth $44,000 after buying an additional 2,156 shares during the last quarter. Russell Investments Group Ltd. raised its holdings 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 buying an additional 619 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Pulse Biosciences during the second quarter worth $158,000. 76.95% of the stock is owned by hedge funds and other institutional investors.

Pulse Biosciences Stock Down 2.4%

The company’s 50 day moving average price is $40.35 and its 200 day moving average price is $29.01. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -45.01 and a beta of 1.63.

Pulse Biosciences (NASDAQ:PLSE) last released its earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $0.43 million during the quarter, compared to analyst estimates of $0.53 million. Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. As a group, analysts expect that Pulse Biosciences, Inc will post -1.29 earnings per share for the current year.

Pulse Biosciences Company Profile

Pulse Biosciences, Inc is a medical technology company developing proprietary bioelectric therapies based on its Nano-Pulse Stimulation technology. The platform delivers ultrashort electrical pulses designed to affect targeted cells while limiting thermal damage to surrounding noncellular tissue.

The company’s primary product is the CellFX System, which is designed to deliver Nano-Pulse Stimulation treatments for certain dermatological conditions. Pulse Biosciences is also developing additional applications for its technology in areas including cardiac procedures and other medical specialties.

Pulse Biosciences was founded in 2014 and is headquartered in Hayward, California.