HC Wainwright reissued their buy rating on shares of Palisade Bio (NASDAQ:PALI – Free Report) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have a $7.00 price objective on the stock.
A number of other brokerages have also recently commented on PALI. Oppenheimer initiated coverage on shares of Palisade Bio in a report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research report on Monday. Raymond James Financial started coverage on shares of Palisade Bio in a research note on Thursday, October 8th. They set an “outperform” rating and a $6.00 price target for the company. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $9.29.
Check Out Our Latest Stock Report on Palisade Bio
Palisade Bio Stock Up 4.1%
Shares of NASDAQ PALI opened at $1.54 on Tuesday. The business has a 50-day moving average price of $1.83 and a 200 day moving average price of $1.92. The stock has a market cap of $268.38 million, a PE ratio of -3.21 and a beta of 1.61. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.85.
Palisade Bio (NASDAQ:PALI – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.50 million. Sell-side analysts anticipate that Palisade Bio will post -0.22 earnings per share for the current year.
Institutional Trading of Palisade Bio
A number of hedge funds have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC purchased a new position in shares of Palisade Bio in the 4th quarter valued at approximately $28,318,000. Commodore Capital LP acquired a new position in shares of Palisade Bio in the fourth quarter valued at approximately $26,896,000. Janus Henderson Group PLC increased its holdings in shares of Palisade Bio by 1.4% in the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock valued at $18,760,000 after purchasing an additional 149,118 shares during the period. Jupiter Topco LLC purchased a new stake in shares of Palisade Bio during the second quarter worth approximately $22,394,000. Finally, BlackRock Inc. purchased a new stake in shares of Palisade Bio during the second quarter worth approximately $21,813,000. 11.79% of the stock is owned by institutional investors and hedge funds.
About Palisade Bio
Palisade Bio, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for gastrointestinal diseases and complications associated with gastrointestinal surgery. The company’s research is centered on treatments designed to address intestinal inflammation, impaired barrier function and other factors that can delay recovery following surgery.
Palisade Bio’s lead product candidate is LB1148, an orally administered, locally acting serine protease inhibitor. The company has evaluated LB1148 for postoperative ileus, a temporary disruption of intestinal movement that can occur after abdominal surgery, as well as for other gastrointestinal conditions and surgery-related complications.
Palisade Bio is headquartered in San Diego, California, and has advanced LB1148 through clinical development.
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