Palisade Bio (NASDAQ:PALI) Stock Picked Up by Analysts at Raymond James Financial

Stock analysts at Raymond James Financial began coverage on shares of Palisade Bio (NASDAQ:PALI) in a report issued on Thursday, MarketBeat Ratings reports. The firm set a “moderate buy” rating on the stock.

Several other equities research analysts have also commented on PALI. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Oppenheimer began coverage on Palisade Bio in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 target price on shares of Palisade Bio in a research note on Wednesday, September 23rd. Finally, LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $9.29.

Palisade Bio Trading Up 6.2%

Shares of PALI opened at $1.54 on Thursday. The firm’s 50-day moving average is $1.87 and its two-hundred day moving average is $1.93. The firm has a market capitalization of $268.38 million, a P/E ratio of -3.21 and a beta of 1.61. Palisade Bio has a twelve month low of $1.32 and a twelve month high of $2.85.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.50 million. Analysts predict that Palisade Bio will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Palisade Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PALI. Legal & General Group Plc acquired a new stake in Palisade Bio during the 2nd quarter worth about $30,000. CTC Alternative Strategies Ltd. acquired a new position in Palisade Bio in the first quarter worth approximately $31,000. WINTON GROUP Ltd increased its holdings in Palisade Bio by 180.2% in the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after buying an additional 20,727 shares during the last quarter. GSA Capital Partners LLP bought a new position in Palisade Bio during the second quarter valued at approximately $54,000. Finally, Two Sigma Securities LLC acquired a new stake in Palisade Bio in the second quarter valued at approximately $57,000. 11.79% of the stock is owned by institutional investors.

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.