Pulse Biosciences Fair Value Raised to US$54.00 as Analysts Back nsPFA Data

Simply Wall St··US·Read original
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Simply Wall St raised its fair value estimate for Pulse Biosciences from US$45.25 to US$54.00 per share, a roughly 19% increase, after analysts pointed to enthusiasm around the company's nsPFA technology and first-in-human European data. BTIG, Freedom Capital and Needham describe the nanosecond pulsed field ablation platform as differentiated from traditional microsecond PFA systems, and BTIG cites European first-in-human data in 141 patients with reported procedural success of 100% at six months and 96.2% at 12 months as support for its US$70 price target. Canaccord, Mizuho and Oppenheimer each raised their price targets, with Canaccord moving from US$32 to US$43, Mizuho from US$30 to US$45 and Oppenheimer from US$30 to US$35. Oppenheimer still flags validation risk because early nsPFA data need confirmation in pivotal trials, and other firms describe Pulse Biosciences as a very early stage commercial company. The updated model also shifted the revenue growth rate from 246.85% to 218.54%, the net profit margin from 12.13% to 12.58%, the future P/E multiple from about 777x to about 1,158x, and the discount rate from 7.45% to about 7.51%.

Impact on assets 4

Financials▲
Health Care▲
Pulse Biosciences Inc
PLSE
▲ PositiveCapitalrelevance

Analysts raised price targets and Simply Wall St lifted fair value to US$54 on enthusiasm for the nsPFA platform and European first-in-human data.

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Off-coverage companies 3

BTIG, LLCi
Private± Mixedrelevance

Canaccord Genuity Group Inc.i
Private± Mixedrelevance

Simply Wall Sti
Private± Mixedrelevance