Palisade Bio (NASDAQ:PALI) Price Target Cut to $5.00 by Analysts at HC Wainwright

Palisade Bio (NASDAQ:PALI) had its price objective decreased by HC Wainwright to $5.00 in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating on shares of Palisade Bio in a research note on Wednesday, October 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Wall Street Zen downgraded shares of Palisade Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Finally, 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 objective on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Palisade Bio has an average rating of “Buy” and a consensus target price of $9.00.

Palisade Bio Price Performance

PALI stock opened at $1.17 on Wednesday. The company has a fifty day moving average price of $1.52 and a 200 day moving average price of $1.82. Palisade Bio has a 12 month low of $1.08 and a 12 month high of $2.85. The company has a market cap of $203.90 million, a price-to-earnings ratio of -2.44 and a beta of 1.61.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, analysts anticipate that Palisade Bio will post -0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. lifted its stake in shares of Palisade Bio by 19.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock worth $117,000 after purchasing an additional 13,110 shares during the period. Legal & General Group Plc purchased a new stake in shares of Palisade Bio in the second quarter valued at $30,000. CTC Alternative Strategies Ltd. purchased a new stake in shares of Palisade Bio in the first quarter valued at $31,000. WINTON GROUP Ltd increased its stake in Palisade Bio by 180.2% in the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock valued at $67,000 after purchasing an additional 20,727 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Palisade Bio in the second quarter valued at $54,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Palisade Bio Company Profile

Palisade Bio is a clinical-stage biopharmaceutical company developing therapies for gastrointestinal diseases, with a focus on oral treatments for inflammatory bowel conditions. Its pipeline includes PALI-2108, an investigational, gut-targeted PDE4 inhibitor being developed for ulcerative colitis and fibrostenotic Crohn’s disease. The company has also developed LB1148, an investigational serine protease inhibitor studied for its potential to support bowel function and reduce complications after abdominal surgery.