Pulse Biosciences (NASDAQ:PLSE) Sets New 52-Week High – Here’s What Happened

Pulse Biosciences, Inc (NASDAQ:PLSE)’s share price reached a new 52-week high on Thursday . The company traded as high as $58.90 and last traded at $52.97, with a volume of 1560345 shares changing hands. The stock had previously closed at $48.79.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PLSE. Oppenheimer reissued an “outperform” rating on shares of Pulse Biosciences in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Pulse Biosciences in a research report on Friday, July 17th. Wall Street Zen upgraded Pulse Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday. Canaccord Genuity Group boosted 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 report on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $45.25.

Pulse Biosciences Stock Up 8.6%

The firm has a market cap of $3.67 billion, a PE ratio of -44.89 and a beta of 1.63. The company has a 50-day simple moving average of $39.37 and a two-hundred day simple moving average of $28.61.

Pulse Biosciences (NASDAQ:PLSE) last announced its earnings results on Thursday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The business had revenue of $0.43 million for 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%. As a group, equities analysts predict that Pulse Biosciences, Inc will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Pulse Biosciences

In related news, COO Liane Teplitsky purchased 1,036 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average price of $48.23 per share, for a total transaction of $49,966.28. Following the purchase, the chief operating officer directly owned 1,036 shares in the company, valued at approximately $49,966.28. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 4,095 shares of company stock worth $199,931. 74.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pulse Biosciences

A number of hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Pulse Biosciences by 2,600.0% during the second 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 during the period. Formula Growth Ltd. bought a new stake in Pulse Biosciences in the 2nd quarter valued at about $832,000. Panoramic Capital LLC bought a new stake in Pulse Biosciences in the 2nd quarter valued at about $2,719,000. Bank of America Corp DE purchased a new stake in Pulse Biosciences during the second quarter valued at about $40,115,000. Finally, Jupiter Topco LLC purchased a new stake in Pulse Biosciences during the second quarter valued at about $241,000. Institutional investors own 76.95% of the company’s stock.

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.