Palisade Bio, Inc. (NASDAQ:PALI) Stock Has Average Target Price of $9.83 According to Analysts

Key Points

• Analysts maintain a bullish view: Palisade Bio has a consensus “Buy” rating from 10 analysts, with an average 12-month price target of $9.83.
• Institutional interest is significant: Hedge funds and other institutions own 11.79% of the company, while recent insider activity included a CEO stock sale to cover tax obligations and a director purchase of 30,000 shares.
• The stock remains highly speculative: PALI opened at $1.44, near its 52-week low of $1.32, and the clinical-stage biopharmaceutical company continues to report losses while developing its lead candidate, LB1148.

Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) has been given a consensus rating of "Buy" by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.83.

A number of equities research analysts have commented on the company. HC Wainwright reiterated a "buy" rating and issued a $7.00 price target on shares of Palisade Bio in a research report on Wednesday, September 23rd. Oppenheimer started coverage on Palisade Bio in a research note on Thursday, July 23rd. They issued an "outperform" rating and a $8.00 price objective on the stock. Wall Street Zen upgraded Palisade Bio from a "sell" rating to a "hold" rating in a report on Saturday, July 25th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a "strong-buy" rating in a research report on Thursday, June 25th. Finally, Weiss Ratings downgraded shares of Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 14th.

Insider Buying and Selling

In related news, CEO John Finley sold 146,798 shares of Palisade Bio stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total transaction of $303,871.86. Following the completion of the transaction, the chief executive officer owned 217,555 shares of the company's stock, valued at $450,338.85. This trade represents a 40.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Baltera bought 30,000 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The stock was purchased at an average price of $2.03 per share, for a total transaction of $60,900.00. Following the acquisition, the director owned 416,904 shares of the company's stock, valued at $846,315.12. This trade represents a 7.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 95,000 shares of company stock valued at $190,700 over the last quarter. Insiders own 0.07% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC bought a new stake in shares of Palisade Bio in the 4th quarter valued at $28,318,000. Commodore Capital LP bought a new stake in Palisade Bio in the fourth quarter valued at $26,896,000. Jupiter Topco LLC bought a new position in shares of Palisade Bio during the 2nd quarter worth about $22,394,000. BlackRock Inc. bought a new position in shares of Palisade Bio during the 2nd quarter worth about $21,813,000. Finally, Eversept Partners LP acquired a new stake in shares of Palisade Bio in the 4th quarter valued at about $12,670,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Palisade Bio Stock Performance

PALI stock opened at $1.44 on Friday. The company has a fifty day moving average price of $1.92 and a 200-day moving average price of $1.95. The company has a market capitalization of $250.95 million, a P/E ratio of -3.00 and a beta of 1.61. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.85.

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

About Palisade Bio

Palisade Bio, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for gastrointestinal diseases and conditions associated with intestinal inflammation, impaired gut-barrier function and complications following surgery.

The company's lead product candidate is LB1148, an orally administered, non-absorbed pan-serine protease inhibitor. Palisade Bio is evaluating LB1148 for its potential to limit the harmful effects of digestive enzymes, reduce inflammation and support intestinal healing during the postoperative period.

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