HC Wainwright Reaffirms “Buy” Rating for Palisade Bio (NASDAQ:PALI)

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. They presently have a $7.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 372.97% from the stock’s current price.

A number of other research analysts also recently weighed in on PALI. Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday. Raymond James Financial began coverage on Palisade Bio in a report on Thursday, October 8th. They set an “outperform” rating and a $6.00 price objective for the company. Oppenheimer assumed coverage on Palisade Bio in a research report on Thursday, July 23rd. They set an “outperform” rating and a $8.00 target price on the stock. Finally, LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a report on Thursday, June 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 company’s stock. Based on data from MarketBeat.com, Palisade Bio presently has an average rating of “Buy” and a consensus target price of $9.29.

Palisade Bio Trading Up 1.0%

Shares of NASDAQ PALI opened at $1.48 on Tuesday. The firm’s 50-day moving average price is $1.84 and its 200-day moving average price is $1.92. Palisade Bio has a 1-year low of $1.32 and a 1-year high of $2.85. The firm has a market capitalization of $257.92 million, a P/E ratio of -3.08 and a beta of 1.61.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts forecast that Palisade Bio will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Legal & General Group Plc purchased a new position in Palisade Bio during the second quarter worth about $30,000. CTC Alternative Strategies Ltd. bought a new stake in Palisade Bio in the 1st quarter worth about $31,000. WINTON GROUP Ltd grew its position in Palisade Bio by 180.2% in the 2nd quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after purchasing an additional 20,727 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Palisade Bio in the 2nd quarter valued at about $54,000. Finally, Two Sigma Securities LLC purchased a new stake in Palisade Bio in the 2nd quarter valued at about $57,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

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.