Palisade Bio (NASDAQ:PALI) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Palisade Bio (NASDAQ:PALI – Free Report) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

PALI has been the topic of a number of other reports. Raymond James Financial began coverage on shares of Palisade Bio in a report on Thursday, October 8th. They set an “outperform” rating and a $6.00 target price on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Oppenheimer initiated coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Palisade Bio in a research note on Tuesday, October 13th. Finally, LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.29.

Read Our Latest Stock Analysis on PALI

Palisade Bio Stock Performance

PALI opened at $1.34 on Friday. The business’s 50-day simple moving average is $1.80 and its 200 day simple moving average is $1.91. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.85. The firm has a market capitalization of $233.52 million, a PE ratio of -2.79 and a beta of 1.61.

Palisade Bio (NASDAQ:PALI – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.50 million. On average, research analysts forecast that Palisade Bio will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd increased its holdings in shares of Palisade Bio by 180.2% in the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock valued at $67,000 after purchasing an additional 20,727 shares during the last quarter. PCG Wealth Advisors LLC bought a new position in shares of Palisade Bio in the second quarter valued at about $86,000. Susquehanna International Group LLP acquired a new stake in shares of Palisade Bio during the 2nd quarter worth about $65,000. Two Sigma Securities LLC acquired a new stake in shares of Palisade Bio during the 2nd quarter worth about $57,000. Finally, Wellington Management Group LLP lifted its stake in shares of Palisade Bio by 27.5% during the 2nd quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company’s stock worth $7,741,000 after buying an additional 799,025 shares during the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

About Palisade Bio

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Palisade Bio (NASDAQ:PALI)

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