Palisade Bio, Inc. (NASDAQ:PALI) Stock Has Average Target Price of $9.29

Key Points

• Analysts remain broadly bullish: Eleven research firms give Palisade Bio an average “Buy” rating, with an average 12-month price target of $9.29. Ratings include eight buys, two strong buys, and one sell.
• The stock is trading near its 52-week low: PALI opened at $1.20, compared with a 52-week range of $1.17 to $2.85, and has recently declined 2.4%.
• Institutional investors have built positions: Several hedge funds initiated or increased stakes, while institutional investors collectively own 11.79% of the company. Palisade Bio is developing gastrointestinal disease therapies, including its lead candidate LB1148.

Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) has received an average recommendation of "Buy" from the eleven research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.29.

PALI has been the subject of a number of recent analyst reports. Wall Street Zen cut shares of Palisade Bio from a "hold" rating to a "sell" rating in a research note on Saturday, October 17th. Oppenheimer reissued an "outperform" rating on shares of Palisade Bio in a research report on Wednesday, October 21st. Raymond James Financial assumed coverage on shares of Palisade Bio in a research note on Thursday, October 8th. They issued an "outperform" rating and a $6.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Palisade Bio in a research report on Tuesday, October 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Palisade Bio in a research report on Monday, October 12th.

Palisade Bio Stock Down 2.4%

NASDAQ PALI opened at $1.20 on Wednesday. Palisade Bio has a 52 week low of $1.17 and a 52 week high of $2.85. The firm has a market capitalization of $209.13 million, a price-to-earnings ratio of -2.50 and a beta of 1.61. The company has a fifty day moving average of $1.71 and a two-hundred day moving average of $1.86.

Palisade Bio (NASDAQ:PALI - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $0.50 million. Equities research analysts anticipate that Palisade Bio will post -0.22 EPS for the current year.

Hedge Funds Weigh In On Palisade Bio

Several hedge funds have recently bought and sold shares of PALI. Jupiter Topco LLC purchased a new stake in Palisade Bio in the second quarter worth $22,394,000. BlackRock Inc. bought a new stake in shares of Palisade Bio during the second quarter worth $21,813,000. Artia Global Partners LP purchased a new stake in shares of Palisade Bio during the second quarter valued at $4,164,000. ADAR1 Capital Management LLC purchased a new stake in shares of Palisade Bio during the second quarter valued at $3,609,000. Finally, Wellington Management Group LLP boosted its stake in shares of Palisade Bio by 27.5% during the second quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company's stock valued at $7,741,000 after purchasing an additional 799,025 shares during the period. Institutional investors own 11.79% of the company's stock.

Palisade Bio Company Profile

Palisade Bio, Inc NASDAQ: PALI 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 intended to protect the intestinal barrier and support recovery following major medical procedures.

Palisade Bio's lead product candidate, LB1148, is an orally administered serine protease inhibitor designed to reduce the harmful effects of digestive enzymes released during surgery or gastrointestinal injury.

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