Palisade Bio, Inc. (PALI) – What Are Brokerages Thinking About This Stock?

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have been assigned an average recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $9.29.

Several equities analysts have recently weighed in on the stock. Oppenheimer began coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price objective for the company. Raymond James Financial initiated coverage on shares of Palisade Bio in a research note on Thursday. They set an “outperform” rating and a $6.00 target price for the company. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Palisade Bio in a report on Wednesday, September 23rd.

Hedge Funds Weigh In On Palisade Bio

A number of hedge funds have recently modified their holdings of PALI. BlackRock Inc. acquired a new position in shares of Palisade Bio in the second quarter worth about $21,813,000. Bank of New York Mellon Corp acquired a new stake in shares of Palisade Bio during the second quarter valued at approximately $728,000. Wellington Management Group LLP raised its holdings in shares of Palisade Bio by 27.5% during the second quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company’s stock valued at $7,741,000 after acquiring an additional 799,025 shares during the period. Commodore Capital LP purchased a new stake in shares of Palisade Bio in the 4th quarter valued at approximately $26,896,000. Finally, Octagon Capital Advisors LP boosted its stake in Palisade Bio by 7.4% in the 1st quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company’s stock worth $17,984,000 after purchasing an additional 708,419 shares during the period. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Palisade Bio Stock Performance

Shares of PALI stock opened at $1.54 on Friday. Palisade Bio has a 1 year low of $1.32 and a 1 year high of $2.85. The business’s fifty day moving average is $1.87 and its 200-day moving average is $1.93. The stock has a market cap of $268.38 million, a PE ratio of -3.21 and a beta of 1.61.

Palisade Bio (NASDAQ:PALI) last announced its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts predict that Palisade Bio will post -0.23 earnings per share for the current year.

Palisade Bio Company Profile

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.