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

Key Points

• Analysts have a consensus “Buy” rating on Palisade Bio, with seven buy ratings, two strong-buy ratings and one sell rating. The average 12-month price target is $9.00.
• PALI shares opened at $2.15, up 9.7%, with a 52-week range of $0.53 to $2.85. The company met quarterly expectations with a loss of $0.05 per share and revenue of $0.50 million.
• Insider activity was mixed: the CEO sold shares to cover tax obligations, while a director purchased 30,000 shares. Institutional investors and hedge funds own 11.79% of the stock.

Shares of Palisade Bio, Inc. (NASDAQ:PALI - Get Free Report) have received a consensus rating of "Buy" from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.00.

A number of brokerages have recently issued reports on PALI. LADENBURG THALM/SH SH raised Palisade Bio to a "strong-buy" rating in a research note on Thursday, June 25th. HC Wainwright reaffirmed a "buy" rating and set a $2.00 target price on shares of Palisade Bio in a research note on Tuesday, June 30th. Oppenheimer started coverage on Palisade Bio in a report on Thursday, July 23rd. They issued an "outperform" rating and a $8.00 target price for the company. Wall Street Zen raised Palisade Bio from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings cut Palisade Bio from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 14th.

Insider Buying and Selling

In other Palisade Bio news, CEO John David Finley sold 146,798 shares of the firm's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $2.07, for a total value of $303,871.86. Following the completion of the sale, the chief executive officer directly owned 217,555 shares in the company, valued at approximately $450,338.85. This trade represents a 40.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Jr. Baltera purchased 30,000 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was bought at an average cost of $2.03 per share, with a total value of $60,900.00. Following the completion of the purchase, the director owned 416,904 shares of the company's stock, valued at approximately $846,315.12. This represents a 7.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 125,000 shares of company stock valued at $250,100 over the last ninety days. 0.07% of the stock is owned by corporate insiders.

Institutional Trading of Palisade Bio

Large investors have recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new position in Palisade Bio during the 4th quarter worth approximately $28,318,000. Commodore Capital LP acquired a new stake in Palisade Bio in the fourth quarter valued at approximately $26,896,000. Janus Henderson Group PLC increased its holdings in shares of Palisade Bio by 1.4% during the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company's stock valued at $18,760,000 after acquiring an additional 149,118 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Palisade Bio during the second quarter worth approximately $21,813,000. Finally, Octagon Capital Advisors LP raised its position in shares of Palisade Bio by 7.4% during the first quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company's stock worth $17,984,000 after purchasing an additional 708,419 shares during the period. 11.79% of the stock is currently owned by institutional investors and hedge funds.

Palisade Bio Stock Up 9.7%

PALI opened at $2.15 on Friday. Palisade Bio has a twelve month low of $0.53 and a twelve month high of $2.85. The company has a fifty day moving average of $1.95 and a 200-day moving average of $1.91. The stock has a market cap of $374.68 million, a PE ratio of -2.13 and a beta of 1.52.

Palisade Bio (NASDAQ:PALI - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.50 million. Sell-side analysts anticipate that Palisade Bio will post -0.22 EPS for the current fiscal year.

Palisade Bio Company Profile

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.

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