Palisade Bio, Inc. (NASDAQ:PALI) Stock Has Consensus Price Target of $9.29

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have been given a consensus recommendation of “Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.29.

PALI has been the subject of several recent research reports. Wall Street Zen lowered shares of Palisade Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Raymond James Financial began coverage on shares of Palisade Bio in a research report on Thursday, October 8th. They issued an “outperform” rating and a $6.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating on shares of Palisade Bio in a research report on Wednesday, October 21st. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Palisade Bio in a research report on Tuesday, October 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a report on Monday, October 12th.

Hedge Funds Weigh In On Palisade Bio

Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in shares of Palisade Bio during the second quarter valued at about $30,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Palisade Bio in the 1st quarter valued at about $31,000. WINTON GROUP Ltd grew its position 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 worth $67,000 after buying an additional 20,727 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Palisade Bio in the 2nd quarter worth approximately $54,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Palisade Bio in the 2nd quarter worth approximately $57,000. 11.79% of the stock is currently owned by institutional investors.

Palisade Bio Stock Performance

Shares of NASDAQ PALI opened at $1.20 on Wednesday. Palisade Bio has a 52-week low of $1.17 and a 52-week high of $2.85. The firm has a market capitalization of $209.13 million, a price-to-earnings ratio of -2.50 and a beta of 1.61. The stock has a 50 day moving average price of $1.71 and a 200 day moving average price of $1.86.

Palisade Bio (NASDAQ:PALI) last posted 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 the consensus estimate of $0.50 million. Analysts forecast that Palisade Bio will post -0.22 earnings per share for the current year.

About Palisade Bio

Palisade Bio, Inc (NASDAQ: PALI) 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 intended to protect the intestinal barrier and support recovery following major medical procedures.

Palisade Bio’s lead product candidate, LB1148, is an orally administered serine protease inhibitor designed to reduce the harmful effects of digestive enzymes released during surgery or gastrointestinal injury.