Wall Street Zen Upgrades Pulse Biosciences (NASDAQ:PLSE) to Hold

Pulse Biosciences (NASDAQ:PLSE) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other brokerages also recently weighed in on PLSE. Mizuho set a $45.00 price objective on shares of Pulse Biosciences in a research report on Monday, August 10th. Oppenheimer reaffirmed an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Needham & Company LLC assumed coverage on Pulse Biosciences in a report on Monday, August 17th. They issued a “buy” rating and a $58.00 price objective on the stock. Canaccord Genuity Group boosted 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pulse Biosciences has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Pulse Biosciences Stock Performance

Pulse Biosciences stock opened at $47.57 on Friday. The firm has a market cap of $3.29 billion, a PE ratio of -40.31 and a beta of 1.61. Pulse Biosciences has a 12 month low of $12.56 and a 12 month high of $50.90. The stock’s 50 day simple moving average is $35.38 and its two-hundred day simple moving average is $27.02.

Pulse Biosciences (NASDAQ:PLSE) last posted 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 net margin of 6,755.78% and a negative return on equity of 94.42%. The firm had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.53 million. On average, equities research analysts forecast that Pulse Biosciences will post -1.29 EPS for the current year.

Insider Activity at Pulse Biosciences

In other news, COO Liane Rae Teplitsky bought 1,036 shares of Pulse Biosciences stock in a transaction on Wednesday, August 26th. The stock was acquired at an average price of $48.23 per share, with a total value of $49,966.28. Following the completion of the acquisition, the chief operating officer directly owned 1,036 shares of the company’s stock, valued at $49,966.28. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 74.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PLSE. California State Teachers Retirement System lifted its holdings in Pulse Biosciences by 2,600.0% in the 2nd quarter. California State Teachers Retirement System now owns 567,883 shares of the company’s stock valued at $15,747,000 after purchasing an additional 546,850 shares in the last quarter. Formula Growth Ltd. acquired a new stake in shares of Pulse Biosciences in the second quarter valued at about $832,000. Panoramic Capital LLC purchased a new position in shares of Pulse Biosciences in the second quarter worth about $2,719,000. Bank of America Corp DE acquired a new position in Pulse Biosciences during the second quarter worth about $40,115,000. Finally, Jupiter Topco LLC purchased a new stake in Pulse Biosciences during the 2nd quarter valued at about $241,000. 76.95% of the stock is owned by institutional investors and hedge funds.

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.