Palisade Bio, Inc. (NASDAQ:PALI) Stock Now Rated “Buy” by Sell-Side Analysts

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have earned a consensus recommendation of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.83.

Several analysts have commented on PALI shares. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and issued a $7.00 target price on shares of Palisade Bio in a research report on Wednesday, September 23rd. Oppenheimer assumed coverage on shares of Palisade Bio in a report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 target price for the company. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th.

Hedge Funds Weigh In On Palisade Bio

A number of large investors have recently modified their holdings of the company. Perceptive Advisors LLC purchased a new stake in Palisade Bio during the fourth quarter worth approximately $28,318,000. Commodore Capital LP acquired a new position in shares of Palisade Bio during the 4th quarter valued at $26,896,000. Jupiter Topco LLC purchased a new stake in Palisade Bio during the 2nd quarter worth $22,394,000. BlackRock Inc. purchased a new stake in Palisade Bio during the 2nd quarter worth $21,813,000. Finally, Janus Henderson Group PLC increased its holdings in Palisade Bio by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock valued at $18,760,000 after purchasing an additional 149,118 shares in the last quarter. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Palisade Bio Stock Performance

PALI stock opened at $1.48 on Friday. The company has a 50 day moving average price of $1.89 and a two-hundred day moving average price of $1.94. The stock has a market capitalization of $257.92 million, a P/E ratio of -3.08 and a beta of 1.61. Palisade Bio has a one year low of $1.32 and a one year high of $2.85.

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

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.