Palisade Bio, Inc. (NASDAQ:PALI) Receives Average Recommendation of “Buy” from Brokerages

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have been given a consensus rating of “Buy” by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $9.00.

A number of brokerages have weighed in on PALI. Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and set a $2.00 target price on shares of Palisade Bio in a research note on Tuesday, June 30th. Weiss Ratings cut Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. Oppenheimer started coverage on Palisade Bio in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th.

Palisade Bio Price Performance

Shares of NASDAQ:PALI opened at $2.09 on Tuesday. The company has a market cap of $364.22 million, a price-to-earnings ratio of -4.35 and a beta of 1.53. The firm’s 50-day simple moving average is $2.03 and its 200-day simple moving average is $1.96. Palisade Bio has a fifty-two week low of $0.53 and a fifty-two week high of $2.86.

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

Insider Transactions at Palisade Bio

In related news, CEO John Finley sold 146,798 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the sale, the chief executive officer owned 217,555 shares in the company, valued at $450,338.85. This trade represents a 40.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mitchell Jones sold 51,880 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total transaction of $106,354.00. Following the sale, the insider directly owned 94,009 shares in the company, valued at approximately $192,718.45. This represents a 35.56% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have purchased a total of 125,000 shares of company stock valued at $250,100 in the last ninety days. 0.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Palisade Bio

A number of hedge funds and other institutional investors have recently modified their holdings of PALI. Cetera Investment Advisers purchased a new stake in shares of Palisade Bio during the 4th quarter worth approximately $25,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Palisade Bio in the 4th quarter worth approximately $26,000. Virtu Financial LLC purchased a new position in Palisade Bio in the 4th quarter valued at approximately $28,000. Legal & General Group Plc purchased a new position in Palisade Bio in the 2nd quarter valued at approximately $30,000. Finally, CTC Alternative Strategies Ltd. purchased a new position in Palisade Bio in the 1st quarter valued at approximately $31,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Palisade Bio Company Profile

Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.