Palisade Bio (NASDAQ:PALI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Palisade Bio (NASDAQ:PALI) announced its earnings results on Tuesday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01), FiscalAI reports.

Palisade Bio Stock Performance

PALI stock traded down $0.06 during mid-day trading on Tuesday, hitting $1.13. The company had a trading volume of 1,611,785 shares, compared to its average volume of 3,611,124. The firm has a market cap of $196.93 million, a PE ratio of -2.35 and a beta of 1.61. Palisade Bio has a 12 month low of $1.08 and a 12 month high of $2.85. The stock’s fifty day moving average price is $1.55 and its two-hundred day moving average price is $1.83.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Raymond James Financial began coverage on shares of Palisade Bio in a report on Thursday, October 8th. They set an “outperform” rating and a $6.00 price target on the stock. Wall Street Zen lowered shares of Palisade Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Oppenheimer reissued an “outperform” rating on shares of Palisade Bio in a research report on Wednesday, October 21st. HC Wainwright reissued 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 restated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Two investment 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 stock. Based on data from MarketBeat, Palisade Bio currently has an average rating of “Buy” and a consensus price target of $9.29.

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.