Palisade Bio (NASDAQ:PALI) Stock Rating Lowered by Wall Street Zen

Palisade Bio (NASDAQ:PALI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other brokerages also recently commented on PALI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Palisade Bio in a report on Monday, October 12th. Raymond James Financial assumed coverage on Palisade Bio in a research report on Thursday, October 8th. They issued an “outperform” rating and a $6.00 price target on the stock. LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Palisade Bio in a research note on Tuesday, October 13th. Finally, Oppenheimer assumed coverage on Palisade Bio in a research report on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.29.

Palisade Bio Stock Performance

PALI stock opened at $1.41 on Friday. The company has a market capitalization of $245.72 million, a P/E ratio of -2.94 and a beta of 1.61. The company has a fifty day moving average price of $1.82 and a 200-day moving average price of $1.92. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.85.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.50 million. As a group, sell-side analysts forecast that Palisade Bio will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palisade Bio

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Palisade Bio during the second quarter worth $30,000. CTC Alternative Strategies Ltd. bought a new position in Palisade Bio during the first quarter worth $31,000. GSA Capital Partners LLP bought a new position in Palisade Bio during the second quarter worth $54,000. Two Sigma Securities LLC bought a new position in Palisade Bio during the second quarter worth $57,000. Finally, Susquehanna International Group LLP acquired a new position in Palisade Bio in the second quarter valued at $65,000. 11.79% of the stock is owned by institutional investors.

Palisade Bio Company Profile

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.