Canaccord Genuity Group Initiates Coverage on Pulse Biosciences (NASDAQ:PLSE)

Research analysts at Canaccord Genuity Group started coverage on shares of Pulse Biosciences (NASDAQ:PLSE) in a research report issued to clients and investors on Thursday, MarketBeat reports. The firm 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 company’s previous close.

A number of other research analysts have also recently commented on the company. Mizuho set a $30.00 price objective on Pulse Biosciences in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Tuesday, April 21st. Oppenheimer reiterated an “outperform” rating and set a $30.00 target price on shares of Pulse Biosciences in a report on Friday, February 20th. Finally, Wall Street Zen raised Pulse Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

Pulse Biosciences Trading Up 2.9%

Shares of PLSE stock opened at $24.99 on Thursday. The company has a market cap of $1.73 billion, a PE ratio of -22.72 and a beta of 1.65. The company’s fifty day simple moving average is $22.53 and its 200-day simple moving average is $18.65. Pulse Biosciences has a 52 week low of $12.56 and a 52 week high of $27.98.

Pulse Biosciences (NASDAQ:PLSE) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.05. The business had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.25 million. Equities research analysts expect that Pulse Biosciences will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling at Pulse Biosciences

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in Pulse Biosciences by 63.6% in the second quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock valued at $26,000 after purchasing an additional 680 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Pulse Biosciences by 275.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock valued at $44,000 after purchasing an additional 2,156 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Pulse Biosciences by 44.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,487 shares of the company’s stock valued at $79,000 after purchasing an additional 1,372 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Pulse Biosciences during the 2nd quarter valued at approximately $158,000. Finally, AlphaQuest LLC boosted its stake in shares of Pulse Biosciences by 54.4% during the 3rd quarter. AlphaQuest LLC now owns 13,689 shares of the company’s stock valued at $242,000 after buying an additional 4,825 shares during the last quarter. 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.