Pulse Biosciences (NASDAQ:PLSE) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Pulse Biosciences (NASDAQ:PLSE) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities research analysts have also recently issued reports on PLSE. Canaccord Genuity Group started coverage on shares of Pulse Biosciences in a report on Thursday, June 4th. They issued a “buy” rating and a $32.00 price objective for the company. Oppenheimer restated an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a report on Friday, July 17th. Three research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.33.

Pulse Biosciences Stock Up 10.9%

NASDAQ PLSE opened at $42.41 on Friday. The stock has a market capitalization of $2.94 billion, a PE ratio of -35.94 and a beta of 1.61. The company has a 50 day moving average price of $29.01 and a two-hundred day moving average price of $23.64. Pulse Biosciences has a 12-month low of $12.56 and a 12-month high of $45.90.

Pulse Biosciences (NASDAQ:PLSE) last posted its earnings results on Thursday, August 6th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07). Pulse Biosciences had a negative return on equity of 100.22% and a negative net margin of 6,755.78%.The business had revenue of $0.43 million during the quarter, compared to the consensus estimate of $0.53 million. As a group, equities analysts anticipate that Pulse Biosciences will post -1.29 EPS for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Pulse Biosciences

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Pulse Biosciences in the second quarter worth about $40,672,000. Bank of America Corp DE boosted its stake in Pulse Biosciences by 8.2% during the 1st quarter. Bank of America Corp DE now owns 866,061 shares of the company’s stock valued at $18,698,000 after purchasing an additional 65,884 shares during the period. State Street Corp boosted its stake in Pulse Biosciences by 6.0% during the 4th quarter. State Street Corp now owns 447,067 shares of the company’s stock valued at $6,138,000 after purchasing an additional 25,187 shares during the period. Brooklyn Investment Group boosted its stake in Pulse Biosciences by 330.7% during the 4th 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 period. Finally, Portolan Capital Management LLC acquired a new stake in Pulse Biosciences in the 3rd quarter valued at approximately $1,809,000. 76.95% of the stock is currently owned by institutional investors.

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.