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

Key Points

• Wall Street Zen downgraded Palisade Bio from “sell” to “strong sell.” Other analysts remain more positive: MarketBeat reports an average “Buy” rating and a $9 consensus price target.
• Palisade Bio reported a quarterly loss of $0.07 per share, missing analysts’ estimate of a $0.06 loss. The stock opened at $1.12, near its 1-year low of $1.08.
• Analyst views are mixed: HC Wainwright cut its price target to $5 while keeping a “buy” rating; Raymond James set a $6 target with an “outperform” rating.

Palisade Bio (NASDAQ:PALI - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the stock. HC Wainwright cut their target price on shares of Palisade Bio to $5.00 and set a "buy" rating for the company in a report on Wednesday. Oppenheimer restated an "outperform" rating on shares of Palisade Bio in a research report on Wednesday, October 21st. Raymond James Financial started coverage on shares of Palisade Bio in a research note on Thursday, October 8th. They set an "outperform" rating and a $6.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Palisade Bio in a research note on Monday, October 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Palisade Bio currently has an average rating of "Buy" and a consensus price target of $9.00.

Palisade Bio Price Performance

NASDAQ PALI opened at $1.12 on Friday. The stock has a market capitalization of $200.79 million, a PE ratio of -2.33 and a beta of 1.61. The business has a 50 day simple moving average of $1.48 and a two-hundred day simple moving average of $1.82. Palisade Bio has a 1-year low of $1.08 and a 1-year high of $2.85.

Palisade Bio (NASDAQ:PALI - Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). On average, analysts anticipate that Palisade Bio will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Palisade Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jupiter Topco LLC purchased a new position in shares of Palisade Bio in the 2nd quarter worth approximately $22,394,000. Janus Henderson Group PLC increased its position in shares of Palisade Bio by 1.4% during 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 during the last quarter. BlackRock Inc. bought a new position in shares of Palisade Bio during the 2nd quarter valued at approximately $21,813,000. Octagon Capital Advisors LP raised its holdings in Palisade Bio by 7.4% during the 1st quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company's stock valued at $17,984,000 after buying an additional 708,419 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Palisade Bio by 27.5% during the 2nd quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company's stock valued at $7,741,000 after buying an additional 799,025 shares during the period. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

About Palisade Bio

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.

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