$PLSE

Needham Initiates Pulse Biosciences at Buy With $58 Price Target

Sector Update: Healthcare Stocks Rise Late Afternoon

Healthcare stocks rose late Friday afternoon, with the NYSE Healthcare Index adding 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.6%.The iShares Biotechnology ETF (IBB) climbed 2%.In corporate news, Doximity (DOCS) reported higher fiscal Q1 revenue late Thursday, beating consensus but adjusted earnings missed estimates. On the company's post-earnings conference call, per a FactSet transcript, Chief Executive Jeffrey Tangney said the revenue that Doximity's new AI search tool is generating is 10 times what it costs to run. Doximity shares surged 36%.Pulse Biosciences (PLSE) shares jumped past 9% in Friday trading, a day after the company reported its Q2 results.Neurocrine Biosciences (NBIX) shares gained 2.8% after the company said Friday it has started a phase 1 first-in-human trial of NBIP-1968, an experimental drug for obesity.ANI Pharmaceuticals (ANIP) shares were down 5.9% even after it posted higher Q2 adjusted earnings and net revenue.

Sector Update: Healthcare

Healthcare stocks rose late Friday afternoon, with the NYSE Healthcare Index adding 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) up 0.6%.The iShares Biotechnology ETF (IBB) climbed 2%.In corporate news, Pulse Biosciences (PLSE) shares jumped past 8% in Friday trading, a day after the company reported its Q2 results.

Pulse Biosciences Shares Rise After Q2 Results

Pulse Biosciences (PLSE) shares were up 6.6% in Friday trading, a day after the company reported its Q2 results.The company posted a Q2 net loss of $0.36 per diluted share, widening from a loss of $0.28 a year earlier.Three analysts polled by FactSet expected a $0.36 loss.Revenue for the quarter ended June 30 was $434,000.Three analysts expected $500,000.Pulse Biosciences said cash and cash equivalents totaled $101.6 million as of June 30.Price: $40.76, Change: $+2.52, Percent Change: +6.58%

Sector Update: Healthcare Stocks Mixed Premarket Wednesday

Healthcare stocks were mixed premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) slightly higher and the iShares Biotechnology ETF (IBB) down 0.2%.Sanofi (SNY) stock was down more than 2% after the company said it will discontinue a phase 3 trial of its experimental drug riliprubart in patients with a type of chronic inflammatory demyelinating polyneuropathy after an interim review found the study was unlikely to provide sufficient efficacy.Pulse Biosciences (PLSE) shares were down more than 4% after the company said it will issue a redemption notice to retire the remaining 200% common stock warrants from its July 2024 rights offering.Tango Therapeutics (TNGX) stock was down more than 1% after the company said it priced an underwritten public offering of 18.2 million common shares and pre-funded warrants to purchase up to 1.8 million additional shares.

Canaccord Genuity Initiates Pulse Biosciences at Buy With $32 Price Target