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

Palisade Bio (NASDAQ:PALI) was upgraded by equities researchers at Raymond James Financial to a “moderate buy” rating in a research note issued on Thursday, Zacks reports.

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

Palisade Bio Price Performance

Shares of NASDAQ:PALI opened at $1.54 on Thursday. The business’s 50 day moving average price is $1.87 and its 200-day moving average price is $1.93. The firm has a market capitalization of $268.38 million, a PE ratio of -3.21 and a beta of 1.61. Palisade Bio has a 1 year low of $1.32 and a 1 year high of $2.85.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.50 million. As a group, analysts expect that Palisade Bio will post -0.23 earnings per share for the current year.

Institutional Trading of Palisade Bio

A number of hedge funds and other institutional investors have recently modified their holdings of PALI. Perceptive Advisors LLC purchased a new position in shares of Palisade Bio during the 4th quarter worth $28,318,000. Commodore Capital LP purchased a new stake in shares of Palisade Bio in the fourth quarter valued at about $26,896,000. Jupiter Topco LLC acquired a new stake in Palisade Bio during the second quarter worth about $22,394,000. BlackRock Inc. acquired a new stake in Palisade Bio during the second quarter worth about $21,813,000. Finally, Janus Henderson Group PLC raised its stake in Palisade Bio by 1.4% during the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock worth $18,760,000 after purchasing an additional 149,118 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.