Palisade Bio (NASDAQ:PALI – Get Free Report) had its target price cut by investment analysts at HC Wainwright from $7.00 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s price target suggests a potential upside of 342.48% from the stock’s current price.
Several other analysts have also commented on PALI. Oppenheimer reaffirmed an “outperform” rating on shares of Palisade Bio in a report on Wednesday, October 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a report on Monday, October 12th. Wall Street Zen downgraded Palisade Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Finally, Raymond James Financial initiated coverage on Palisade Bio in a research report on Thursday, October 8th. They issued an “outperform” rating and a $6.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $9.00.
Read Our Latest Analysis on Palisade Bio
Palisade Bio Trading Down 5.0%
Shares of PALI stock opened at $1.13 on Wednesday. Palisade Bio has a 12-month low of $1.08 and a 12-month high of $2.85. The stock has a market capitalization of $196.93 million, a P/E ratio of -2.35 and a beta of 1.61. The firm’s 50 day moving average is $1.53 and its 200 day moving average is $1.83.
Palisade Bio (NASDAQ:PALI – Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, equities analysts predict that Palisade Bio will post -0.22 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its position in shares of Palisade Bio by 19.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock valued at $117,000 after acquiring an additional 13,110 shares during the period. Legal & General Group Plc bought a new position in Palisade Bio in the 2nd quarter worth $30,000. CTC Alternative Strategies Ltd. bought a new position in Palisade Bio in the 1st quarter worth $31,000. WINTON GROUP Ltd raised its holdings in Palisade Bio by 180.2% in the 2nd quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after purchasing an additional 20,727 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Palisade Bio during the second quarter valued at $54,000. 11.79% of the stock is currently owned by institutional investors.
Palisade Bio Company Profile
Palisade Bio, Inc. (NASDAQ: PALI) 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 intended to protect the intestinal barrier and support recovery following major medical procedures. Palisade Bio’s lead product candidate, LB1148, is an orally administered serine protease inhibitor designed to reduce the harmful effects of digestive enzymes released during surgery or gastrointestinal injury.
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