Palisade Bio (NASDAQ:PALI) Given “Buy” Rating at HC Wainwright

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued on Tuesday, MarketBeat Ratings reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 362.05% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Palisade Bio in a research report on Monday. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Raymond James Financial began coverage on Palisade Bio in a report on Thursday, October 8th. They set an “outperform” rating and a $6.00 target price for the company. Finally, Oppenheimer initiated coverage on Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price objective for the company. 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, the company presently has an average rating of “Buy” and a consensus price target of $9.29.

Palisade Bio Price Performance

Shares of NASDAQ:PALI traded up $0.04 during trading on Tuesday, hitting $1.52. 1,199,330 shares of the company’s stock were exchanged, compared to its average volume of 3,568,403. The business’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $1.92. The company has a market cap of $264.02 million, a price-to-earnings ratio of -3.16 and a beta of 1.61. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.86.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, sell-side analysts anticipate that Palisade Bio will post -0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. WINTON GROUP Ltd grew its stake in shares of Palisade Bio by 180.2% in the 2nd quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock valued at $67,000 after buying an additional 20,727 shares during the period. PCG Wealth Advisors LLC acquired a new stake in Palisade Bio during the second quarter worth $86,000. Susquehanna International Group LLP acquired a new stake in Palisade Bio during the second quarter worth $65,000. Two Sigma Securities LLC purchased a new stake in Palisade Bio in the second quarter valued at $57,000. Finally, Wellington Management Group LLP raised its position in Palisade Bio by 27.5% in the second quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company’s stock valued at $7,741,000 after purchasing an additional 799,025 shares during the period. 11.79% of the stock is owned by institutional investors and hedge funds.

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.