Palisade Bio (NASDAQ:PALI) Now Covered by Analysts at Raymond James Financial

by · The Cerbat Gem

Stock analysts at Raymond James Financial started coverage on shares of Palisade Bio (NASDAQ:PALI – Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The firm set an “outperform” rating and a $6.00 price target on the stock. Raymond James Financial’s price objective would indicate a potential upside of 289.61% from the company’s previous close.

Other equities analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Palisade Bio in a research note on Wednesday, September 23rd. Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Oppenheimer started coverage on shares of Palisade Bio in a report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price target for the company. Weiss Ratings cut shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Finally, LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $9.29.

Read Our Latest Research Report on PALI

Palisade Bio Price Performance

NASDAQ:PALI traded up $0.09 during trading hours on Thursday, hitting $1.54. 1,840,396 shares of the company were exchanged, compared to its average volume of 3,833,269. Palisade Bio has a 52-week low of $1.32 and a 52-week high of $2.85. The stock has a market capitalization of $268.38 million, a price-to-earnings ratio of -3.21 and a beta of 1.61. The company’s 50 day moving average price is $1.87 and its 200-day moving average price is $1.93.

Palisade Bio (NASDAQ:PALI – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts predict that Palisade Bio will post -0.23 earnings per share for the current year.

Institutional Investors Weigh In On Palisade Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in PALI. Perceptive Advisors LLC bought a new stake in shares of Palisade Bio during the fourth quarter worth about $28,318,000. Commodore Capital LP acquired a new position in Palisade Bio during the fourth quarter worth $26,896,000. Janus Henderson Group PLC raised its stake in shares of Palisade Bio by 1.4% in the first quarter. Janus Henderson Group PLC now owns 10,689,452 shares of the company’s stock worth $18,760,000 after purchasing an additional 149,118 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of Palisade Bio in the 2nd quarter worth approximately $22,394,000. Finally, BlackRock Inc. purchased a new stake in Palisade Bio during the second quarter worth about $21,813,000. 11.79% of the stock is currently owned by institutional investors and hedge funds.

About Palisade Bio

(Get Free Report)

Palisade Bio, Inc 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 designed to address intestinal inflammation, impaired barrier function and other factors that can delay recovery following surgery.

Palisade Bio’s lead product candidate is LB1148, an orally administered, locally acting serine protease inhibitor. The company has evaluated LB1148 for postoperative ileus, a temporary disruption of intestinal movement that can occur after abdominal surgery, as well as for other gastrointestinal conditions and surgery-related complications.

Palisade Bio is headquartered in San Diego, California, and has advanced LB1148 through clinical development.

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