Palisade Bio, Inc. (NASDAQ:PALI) Given Average Recommendation of “Buy” by Brokerages

Palisade Bio, Inc. (NASDAQ:PALI) has earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $9.00.

Several brokerages recently issued reports on PALI. HC Wainwright restated a “buy” rating and issued a $2.00 target price on shares of Palisade Bio in a report on Tuesday, June 30th. Wolfe Research assumed coverage on Palisade Bio in a report on Thursday, April 9th. They issued an “outperform” rating and a $7.00 target price on the stock. Oppenheimer initiated coverage on Palisade Bio in a research report on Thursday. They issued an “outperform” rating and a $8.00 target price on the stock. LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday.

Palisade Bio Stock Performance

Shares of NASDAQ PALI opened at $1.95 on Monday. The firm’s 50 day moving average price is $1.92 and its 200-day moving average price is $1.90. The company has a market cap of $338.48 million, a PE ratio of -1.93 and a beta of 1.50. Palisade Bio has a 52-week low of $0.53 and a 52-week high of $2.86.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). On average, analysts forecast that Palisade Bio will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mitchell Lawrence Jones sold 51,880 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total value of $106,354.00. Following the transaction, the insider directly owned 94,009 shares in the company, valued at $192,718.45. The trade was a 35.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John David Finley sold 146,798 shares of Palisade Bio stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the sale, the chief executive officer directly owned 217,555 shares in the company, valued at $450,338.85. This trade represents a 40.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders purchased a total of 125,000 shares of company stock worth $250,100 over the last quarter. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Palisade Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC purchased a new stake in shares of Palisade Bio during the 4th quarter worth approximately $28,318,000. Commodore Capital LP bought a new position in shares of Palisade Bio in the 4th quarter valued at about $26,896,000. Janus Henderson Group PLC grew its position in Palisade Bio by 1.4% in the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock worth $18,760,000 after acquiring an additional 149,118 shares in the last quarter. Octagon Capital Advisors LP grew its position in Palisade Bio by 7.4% in the first quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company’s stock worth $17,984,000 after acquiring an additional 708,419 shares in the last quarter. Finally, RA Capital Management L.P. bought a new stake in Palisade Bio during the fourth quarter worth approximately $16,742,000. 11.79% of the stock is currently owned by institutional investors.

About Palisade Bio

Palisade Bio, Inc is a clinical?stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll?like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.