Wolfe Research Upgrades Palisade Bio (NASDAQ:PALI) to Strong-Buy

Key Points

• Wolfe Research upgraded Palisade Bio (NASDAQ:PALI) to a "strong-buy," and the stock carries an overall analyst consensus of "Buy" with a consensus target price of $10.20 (2 strong-buy, 5 buy, 1 sell).
• Major hedge funds bought sizable fourth-quarter stakes—Perceptive Advisors ($28.3M), Commodore Capital ($26.9M), Janus Henderson ($24.8M), RA Capital ($16.7M) and Eversept ($12.7M)—bringing institutional ownership to about 11.8%.
• Palisade is a clinical-stage biotech focused on localized immunotherapies, with lead candidate PDS0108, an intratumoral TLR9 agonist prodrug, currently in Phase 1/2 trials.

Palisade Bio (NASDAQ:PALI - Get Free Report) was upgraded by equities researchers at Wolfe Research to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Clear Str upgraded shares of Palisade Bio to a "strong-buy" rating in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Palisade Bio from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Palisade Bio in a research report on Thursday, January 22nd. HC Wainwright assumed coverage on shares of Palisade Bio in a research report on Thursday, March 26th. They issued a "buy" rating and a $7.00 price target on the stock. Finally, B. Riley Financial assumed coverage on shares of Palisade Bio in a research report on Friday, January 9th. They issued a "buy" rating and a $7.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $10.20.

Palisade Bio Trading Up 5.9%

PALI opened at $1.98 on Wednesday. Palisade Bio has a 1-year low of $0.53 and a 1-year high of $2.64. The company has a market capitalization of $328.44 million, a PE ratio of -0.93 and a beta of 1.36. The firm's 50 day simple moving average is $1.80 and its two-hundred day simple moving average is $1.83.

Institutional Trading of Palisade Bio

A number of hedge funds and other institutional investors have recently modified their holdings of PALI. Perceptive Advisors LLC purchased a new stake in shares of Palisade Bio in the fourth quarter worth $28,318,000. Commodore Capital LP purchased a new stake in shares of Palisade Bio in the fourth quarter worth $26,896,000. Janus Henderson Group PLC purchased a new stake in shares of Palisade Bio in the fourth quarter worth $24,822,000. RA Capital Management L.P. purchased a new stake in shares of Palisade Bio in the fourth quarter worth $16,742,000. Finally, Eversept Partners LP purchased a new position in Palisade Bio during the fourth quarter valued at $12,670,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

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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