Palisade Bio (NASDAQ:PALI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Palisade Bio (NASDAQ:PALI) posted its earnings results on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), FiscalAI reports.

Palisade Bio Stock Performance

PALI traded up $0.04 during midday trading on Wednesday, hitting $1.17. The company had a trading volume of 475,025 shares, compared to its average volume of 3,598,759. Palisade Bio has a twelve month low of $1.08 and a twelve month high of $2.85. The company has a market capitalization of $203.02 million, a PE ratio of -2.43 and a beta of 1.61. The firm’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.83.

Analysts Set New Price Targets

A number of research analysts have commented on PALI shares. Oppenheimer restated an “outperform” rating on shares of Palisade Bio in a research note on Wednesday, October 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Wall Street Zen cut Palisade Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. HC Wainwright cut their target price on Palisade Bio to $5.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Raymond James Financial started coverage on shares of Palisade Bio in a research report on Thursday, October 8th. They set an “outperform” rating and a $6.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven 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 a consensus rating of “Buy” and a consensus price target of $9.00.

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.