Pulse Biosciences (NASDAQ:PLSE) Coverage Initiated by Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC started coverage on shares of Pulse Biosciences (NASDAQ:PLSE) in a note issued to investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $58.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 30.22% from the company’s current price.

PLSE has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Oppenheimer reiterated an “outperform” rating on shares of Pulse Biosciences in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Pulse Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Canaccord Genuity Group upped their price objective on Pulse Biosciences from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Mizuho set a $45.00 price target on Pulse Biosciences in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

Pulse Biosciences Stock Performance

PLSE stock opened at $44.54 on Monday. The stock’s 50 day moving average price is $30.86 and its 200 day moving average price is $24.74. The firm has a market cap of $3.08 billion, a P/E ratio of -37.75 and a beta of 1.61. Pulse Biosciences has a 1 year low of $12.56 and a 1 year high of $46.97.

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 analysts’ consensus estimates of ($0.29) by ($0.07). The firm had revenue of $0.43 million during the quarter, compared to analysts’ expectations of $0.53 million. Pulse Biosciences had a negative net margin of 6,755.78% and a negative return on equity of 94.42%. On average, research analysts predict that Pulse Biosciences will post -1.29 earnings per share for the current year.

Institutional Trading of Pulse Biosciences

A number of hedge funds have recently made changes to their positions in PLSE. BlackRock Inc. acquired a new position in Pulse Biosciences in the second quarter worth about $40,672,000. Bank of America Corp DE bought a new position in Pulse Biosciences during the 2nd quarter worth approximately $40,115,000. Portolan Capital Management LLC acquired a new position in shares of Pulse Biosciences in the 3rd quarter worth approximately $1,809,000. Brooklyn Investment Group grew its position in shares of Pulse Biosciences by 330.7% in the 4th 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 in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Pulse Biosciences in the 2nd quarter valued at approximately $1,196,000. Institutional investors and hedge funds 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.