Palisade Bio (NASDAQ:PALI) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Palisade Bio to “Sell” from “Hold,” although broader analyst sentiment remains positive with a consensus “Buy” rating and an average price target of $9.29.
• PALI opened at $1.41, near its one-year low of $1.32, with a market capitalization of approximately $245.7 million. The company reported a quarterly loss of $0.05 per share and $0.50 million in revenue, both in line with estimates.
• Institutional investors own 11.79% of Palisade Bio, while the clinical-stage biotechnology company continues developing LB1148, an oral treatment candidate for gastrointestinal diseases and surgery-related complications.

Palisade Bio (NASDAQ:PALI - Get Free Report) was downgraded by 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. Oppenheimer began coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They set an "outperform" rating and a $8.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Palisade Bio in a report on Thursday, October 8th. They issued an "outperform" rating and a $6.00 target price for the company. LADENBURG THALM/SH SH upgraded shares of Palisade Bio to a "strong-buy" rating in a research note on Thursday, June 25th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Palisade Bio in a research note on Monday. Finally, HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Palisade Bio in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $9.29.

Palisade Bio Price Performance

NASDAQ:PALI opened at $1.41 on Friday. The firm's 50-day moving average price is $1.82 and its 200-day moving average price is $1.92. The company has a market capitalization of $245.72 million, a PE ratio of -2.94 and a beta of 1.61. Palisade Bio has a 1-year low of $1.32 and a 1-year high of $2.85.

Palisade Bio (NASDAQ:PALI - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting 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. Equities analysts anticipate that Palisade Bio will post -0.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Palisade Bio

Several large investors have recently bought and sold shares of PALI. Legal & General Group Plc bought a new position in Palisade Bio during the 2nd quarter valued at about $30,000. CTC Alternative Strategies Ltd. bought a new stake in shares of Palisade Bio in the first quarter worth approximately $31,000. GSA Capital Partners LLP bought a new stake in shares of Palisade Bio in the second quarter worth approximately $54,000. Two Sigma Securities LLC bought a new stake in shares of Palisade Bio in the second quarter worth approximately $57,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Palisade Bio during the second quarter valued at approximately $65,000. 11.79% of the stock is currently 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.

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