HC Wainwright Reaffirms Buy Rating for Palisade Bio (NASDAQ:PALI)

Palisade Bio (NASDAQ:PALI - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a report released on Tuesday, Marketbeat.com reports. They currently have a $7.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 340.25% from the stock's current price.

A number of other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded Palisade Bio from a "sell" rating to a "hold" rating in a research report on Saturday, July 25th. Raymond James Financial initiated coverage on Palisade Bio in a research report on Thursday. They issued an "outperform" rating and a $6.00 price objective on the stock. Weiss Ratings reiterated a "sell (e+)" rating on shares of Palisade Bio in a research report on Monday. Oppenheimer initiated coverage on Palisade Bio in a research report on Thursday, July 23rd. They issued an "outperform" rating and a $8.00 price objective on the stock. Finally, LADENBURG THALM/SH SH upgraded Palisade Bio to a "strong-buy" rating in a research report on Thursday, June 25th. Two investment 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.com, the stock currently has an average rating of "Buy" and a consensus target price of $9.29.

Palisade Bio Stock Up 3.2%

PALI opened at $1.59 on Tuesday. The company's 50-day moving average price is $1.87 and its two-hundred day moving average price is $1.93. Palisade Bio has a twelve month low of $1.32 and a twelve month high of $2.86. The stock has a market cap of $277.09 million, a price-to-earnings ratio of -3.31 and a beta of 1.61.

Palisade Bio (NASDAQ:PALI - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $0.50 million. As a group, sell-side analysts anticipate that Palisade Bio will post -0.23 earnings per share for the current year.

Institutional Trading of Palisade Bio

Large investors have recently modified their holdings of the business. Perceptive Advisors LLC bought a new position in shares of Palisade Bio during the 4th quarter valued at about $28,318,000. Commodore Capital LP purchased a new stake in Palisade Bio in the 4th quarter worth about $26,896,000. Jupiter Topco LLC purchased a new stake in Palisade Bio in the 2nd quarter worth about $22,394,000. BlackRock Inc. purchased a new position in shares of Palisade Bio during the second quarter worth approximately $21,813,000. Finally, Eversept Partners LP purchased a new position in shares of Palisade Bio during the fourth quarter worth approximately $12,670,000. 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.