Pulse Biosciences (NASDAQ:PLSE) Earns Buy Rating from Analysts at Canaccord Genuity Group

Analysts at Canaccord Genuity Group began coverage on shares of Pulse Biosciences (NASDAQ:PLSE) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 28.05% from the stock’s previous close.

PLSE has been the subject of several other reports. Wall Street Zen raised shares of Pulse Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Mizuho set a $30.00 price target on Pulse Biosciences in a research note on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a report on Tuesday, April 21st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 target price on shares of Pulse Biosciences in a research note on Friday, February 20th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Pulse Biosciences currently has an average rating of “Moderate Buy” and an average price target of $30.67.

Pulse Biosciences Trading Up 2.9%

Shares of PLSE stock opened at $24.99 on Thursday. The firm has a 50-day moving average price of $22.53 and a 200 day moving average price of $18.65. Pulse Biosciences has a twelve month low of $12.56 and a twelve month high of $27.98. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -22.72 and a beta of 1.65.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Pulse Biosciences during the first quarter valued at about $323,000. Creative Planning increased its stake in Pulse Biosciences by 26.3% during the second quarter. Creative Planning now owns 18,971 shares of the company’s stock worth $286,000 after acquiring an additional 3,951 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Pulse Biosciences by 57.7% in the 2nd quarter. Legal & General Group Plc now owns 22,415 shares of the company’s stock worth $338,000 after purchasing an additional 8,197 shares during the period. Norges Bank purchased a new position in shares of Pulse Biosciences in the 2nd quarter worth about $302,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Pulse Biosciences in the 2nd quarter valued at about $158,000. 76.95% of the stock is owned by hedge funds and other institutional investors.

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.