Pulse Biosciences (NASDAQ:PLSE) Hits New 52-Week High – Still a Buy?

Shares of Pulse Biosciences, Inc (NASDAQ:PLSE) reached a new 52-week high during trading on Monday . The company traded as high as $37.53 and last traded at $37.4220, with a volume of 39007 shares. The stock had previously closed at $35.13.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PLSE shares. Oppenheimer reaffirmed an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. 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 objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Pulse Biosciences Price Performance

The firm’s 50 day moving average is $28.13 and its 200 day moving average is $23.17. The company has a market capitalization of $2.64 billion, a PE ratio of -34.70 and a beta of 1.61.

Pulse Biosciences (NASDAQ:PLSE) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.25 million. As a group, analysts predict that Pulse Biosciences, Inc will post -1.29 EPS for the current fiscal year.

Insider Activity at Pulse Biosciences

In other Pulse Biosciences news, Director Robert W. Duggan purchased 660,233 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was 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 in the company, valued at $949,283,115.77. The trade was a 1.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul A. Laviolette bought 15,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $19.69 per share, with a total value of $295,350.00. Following the purchase, the chief executive officer directly owned 15,000 shares of the company’s stock, valued at approximately $295,350. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 74.00% of the company’s stock.

Institutional Investors Weigh In On Pulse Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of 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 buying an additional 65,884 shares during the last quarter. State Street Corp raised its position in Pulse Biosciences by 6.0% in the fourth quarter. State Street Corp now owns 447,067 shares of the company’s stock worth $6,138,000 after acquiring an additional 25,187 shares during the period. Brooklyn Investment Group raised its position in Pulse Biosciences by 330.7% in the fourth quarter. Brooklyn Investment Group now owns 130,340 shares of the company’s stock worth $1,844,000 after acquiring an additional 100,081 shares during the period. Portolan Capital Management LLC purchased a new position in shares of Pulse Biosciences during the 3rd quarter worth $1,809,000. Finally, UBS Group AG grew its position in shares of Pulse Biosciences by 53.4% during the 3rd quarter. UBS Group AG now owns 76,856 shares of the company’s stock valued at $1,360,000 after acquiring an additional 26,739 shares during the period. Institutional investors 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.