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Wednesday, May 1, 2019

Pulse Biosciences, Inc. (PLSE) Misses Q1 EPS by 5c

Pulse Biosciences, Inc. (NASDAQ: PLSE) reported Q1 EPS of ($0.49), $0.05 worse than the analyst estimate of ($0.44).
Recent Corporate Developments
  • Pre-market Notification (510(k)) submitted to the U.S. Food and Drug Administration (FDA) for its proprietary CellFX System seeking clearance for commercial use in common dermatologic procedures to remove general benign lesions including Sebaceous Hyperplasia, a common but difficult-to-treat facial lesion and Seborrheic Keratosis, a common benign pigmented lesion. This afternoon we received an additional information (“AI”) letter request from FDA, and the FDA among other things is questioning the adequacy of the predicate device provided in the 510(k). Responding to this request will add time and require additional testing, inclusive of clinical trials. In consideration of the above we are presently evaluating an alternative approach, the De Novo process approach, which would also likely require additional time, testing and clinical studies. At the end of the day the De Novo approach may be in the best interest of Pulse Biosciences. We will update on this important matter no later than the upcoming Annual Meeting of Stockholders scheduled for May 16, 2019.
  • Mitchell Levinson, a well-seasoned entrepreneur and executive in the aesthetic procedure market, appointed to the Board of Directors.
  • Podium presentations by key opinion leaders in aesthetic dermatology speaking to the novel mechanism of action of the CellFX System and the positive results from our clinical studies in Sebaceous Hyperplasia and Common Warts at the American Academy of Dermatology Annual Meeting and the American Society for Laser Medicine and Surgery Annual Conference.
  • Continued progress in active feasibility studies including Common Warts, Back Acne and Basal Cell Carcinoma.
“At Pulse Biosciences we remain focused on commercializing our CellFX System in aesthetic dermatology and we are pleased with our progress towards this goal in Q1,” said Darrin Uecker, Pulse Biosciences’ President and Chief Executive Officer.

Tandem Diabetes price target raised to $78 from $67 at Piper Jaffray

Piper Jaffray analyst JP Kim raised his price target on Tandem Diabetes to $78 and kept his Overweight rating after its Q1 results “far exceeded” expectations, saying the company is “clearly” capturing market share in in the pump market. The analyst also cites the momentum of Tandem Diabetes based on the management’s indication that only about a quarter of the company’s sales were in January, anticipating no change in the positive “competitive dynamic” of its market.

Teladoc Q1 results rebuffed multiple share overhangs, says Piper Jaffray

Piper Jaffray analyst Sean Wieland believes Teladoc’s “solid” Q1 results rebuffed the “multiple overhangs” on the stock. Strong utilization trends brushed off the concerns over the weak flu season and management committed to receiving the NCQA accreditation, Wieland tells investors in a research note. He sees new or expansion opportunities for the company across United, Aetna, Tricare, and the Medicare Advantage markets. As such, the analyst reiterates an Overweight rating on the shares with an $86 price target.

United Therapeutics reports Q1 EPS $3.58, consensus $2.78

Reports Q1 revenue $362.6M, consensus $335.43M.

Humana raises FY19 adjusted EPS view to to approximately $17.25-$17.50

Prior view was $17.00-$17.50. FY19 consensus $17.43. Increases full year expected individual Medicare Advantage membership growth to 415,000 to 440,000 members, representing approximately 14% growth in 2019.

Alkermes downgraded to Neutral from Buy at Citi

Citi analyst Liav Abraham downgraded to Neutral from Buy and lowered her price target for the shares to $33.

Humana reports Q1 adjusted EPS $4.48, consensus $4.30

Reports Q1 revenue $16.1B, consensus $15.78B.