Palisade Bio (NASDAQ:PALI) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Palisade Bio (NASDAQ:PALI) released its earnings results on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.06), Zacks reports.

Palisade Bio Stock Up 9.6%

NASDAQ:PALI traded up $0.18 during mid-day trading on Wednesday, hitting $2.00. 531,016 shares of the stock traded hands, compared to its average volume of 2,931,695. The business’s 50-day moving average price is $1.34 and its 200 day moving average price is $0.98. The company has a market cap of $265.34 million, a PE ratio of -0.94 and a beta of 1.60. Palisade Bio has a 12-month low of $0.53 and a 12-month high of $3.30.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PALI shares. Citigroup reissued a “buy” rating on shares of Palisade Bio in a report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Palisade Bio Company Profile

Palisade Bio, Inc, a clinical-stage biopharmaceutical company, focuses on focuses on developing therapeutics that protect the integrity of the intestinal barrier in the United States. The company's lead therapeutic candidate is PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.