Palisade Bio (NASDAQ:PALI) Stock Rating Raised to “Moderate Buy” at Raymond James Financial

Raymond James Financial upgraded shares of Palisade Bio (NASDAQ:PALI) to a moderate buy rating in a report published on Thursday morning, MarketBeat Ratings reports.

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

Palisade Bio Stock Performance

Shares of PALI stock opened at $1.54 on Thursday. The stock has a market capitalization of $268.38 million, a P/E ratio of -3.21 and a beta of 1.61. The company has a 50 day moving average price of $1.87 and a 200 day moving average price of $1.93. Palisade Bio has a fifty-two week low of $1.32 and a fifty-two week high of $2.85.

Palisade Bio (NASDAQ:PALI) last announced its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, research analysts forecast that Palisade Bio will post -0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

Hedge funds have recently added to or reduced their stakes in 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 purchased a new position in shares of Palisade Bio during the fourth quarter worth about $26,896,000. Jupiter Topco LLC purchased a new position in shares of Palisade Bio during the second quarter worth about $22,394,000. BlackRock Inc. purchased a new stake in shares of Palisade Bio in the 2nd quarter valued at about $21,813,000. Finally, Janus Henderson Group PLC boosted its position in shares of Palisade Bio by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock valued at $18,760,000 after purchasing an additional 149,118 shares during the period. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

About Palisade Bio

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.