Palisade Bio, Inc. (NASDAQ:PALI) Given Average Recommendation of "Buy" by Analysts

Key Points

• Analyst sentiment is mostly positive for Palisade Bio, with nine brokerages giving the stock an average “Buy” rating and an average 1-year target price of about $8.83. The breakdown includes six Buy ratings, two Strong Buy ratings, and one Sell rating.
• The stock recently traded at $1.97, well below the analyst target range, and the company remains unprofitable with a negative P/E ratio and a latest quarterly EPS miss of $0.05 versus expectations of $0.04.
• Insiders and institutions have been active: the CEO and another insider sold shares in July for tax withholding purposes, while institutional ownership stands at 11.79% and includes sizable positions or new stakes from firms like Geode Capital, Goldman Sachs, and Jefferies.

Shares of Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) have been assigned an average recommendation of "Buy" from the nine brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.8333.

Several analysts have issued reports on PALI shares. HC Wainwright reaffirmed a "buy" rating and issued a $2.00 price objective on shares of Palisade Bio in a research report on Tuesday, June 30th. Wolfe Research started coverage on shares of Palisade Bio in a research note on Thursday, April 9th. They issued an "outperform" rating and a $7.00 target price for the company. LADENBURG THALM/SH SH raised shares of Palisade Bio to a "strong-buy" rating in a report on Thursday, June 25th. Weiss Ratings lowered shares of Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded Palisade Bio from a "hold" rating to a "sell" rating in a research note on Monday, July 13th.

Palisade Bio Price Performance

Shares of NASDAQ PALI opened at $1.97 on Monday. Palisade Bio has a 1-year low of $0.53 and a 1-year high of $2.85. The company has a market capitalization of $341.95 million, a price-to-earnings ratio of -1.95 and a beta of 1.50. The business has a 50-day moving average of $1.92 and a 200-day moving average of $1.91.

Palisade Bio (NASDAQ:PALI - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Research analysts expect that Palisade Bio will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mitchell Lawrence Jones sold 51,880 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.05, for a total value of $106,354.00. Following the completion of the transaction, the insider owned 94,009 shares of the company's stock, valued at approximately $192,718.45. This represents a 35.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John David Finley sold 146,798 shares of Palisade Bio stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total value of $303,871.86. Following the sale, the chief executive officer owned 217,555 shares in the company, valued at $450,338.85. This represents a 40.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have acquired 125,000 shares of company stock worth $250,100. 0.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Palisade Bio

Institutional investors have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. bought a new stake in Palisade Bio in the fourth quarter valued at about $70,000. Jefferies Financial Group Inc. bought a new stake in Palisade Bio during the fourth quarter valued at $110,000. Geode Capital Management LLC lifted its position in shares of Palisade Bio by 5,780.7% in the 4th quarter. Geode Capital Management LLC now owns 1,565,452 shares of the company's stock worth $3,681,000 after buying an additional 1,538,832 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Palisade Bio during the 4th quarter valued at about $1,310,000. Finally, TD Asset Management Inc acquired a new position in Palisade Bio in the fourth quarter valued at approximately $480,000. Institutional investors and hedge funds own 11.79% of the company's stock.

About Palisade Bio

Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.