Wall Street Zen Downgrades Pulse Biosciences (NASDAQ:PLSE) to Sell

Pulse Biosciences (NASDAQ:PLSE) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Oppenheimer reissued 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 research note on Thursday, June 4th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a report on Friday, July 17th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

Pulse Biosciences Stock Performance

Pulse Biosciences stock opened at $42.41 on Friday. The stock’s 50 day simple moving average is $29.01 and its two-hundred day simple moving average is $23.71. The firm has a market cap of $2.94 billion, a PE ratio of -35.94 and a beta of 1.61. Pulse Biosciences has a 12 month low of $12.56 and a 12 month high of $45.90.

Pulse Biosciences (NASDAQ:PLSE) last issued its quarterly 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 business had revenue of $0.43 million for the quarter, compared to analysts’ expectations of $0.53 million. Pulse Biosciences had a negative return on equity of 100.22% and a negative net margin of 6,755.78%. On average, equities research analysts forecast that Pulse Biosciences will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Pulse Biosciences

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Pulse Biosciences during the second quarter worth approximately $40,672,000. Portolan Capital Management LLC acquired a new position in Pulse Biosciences during the third quarter worth $1,809,000. Brooklyn Investment Group grew its holdings in Pulse Biosciences by 330.7% in the 4th quarter. Brooklyn Investment Group now owns 130,340 shares of the company’s stock valued at $1,844,000 after buying an additional 100,081 shares in the last quarter. Bank of America Corp DE grew its holdings in Pulse Biosciences by 8.2% in the 1st quarter. Bank of America Corp DE now owns 866,061 shares of the company’s stock valued at $18,698,000 after buying an additional 65,884 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Pulse Biosciences in the 2nd quarter worth $1,196,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.

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.