Palisade Bio (NASDAQ:PALI) Downgraded by Wall Street Zen to “Sell”

by · The Markets Daily

Wall Street Zen lowered shares of Palisade Bio (NASDAQ:PALI – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Several other equities analysts have also commented on PALI. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Palisade Bio in a report on Tuesday, October 13th. Oppenheimer started coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 target price on the stock. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Finally, Raymond James Financial began coverage on shares of Palisade Bio in a research report on Thursday, October 8th. They set an “outperform” rating and a $6.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $9.29.

View Our Latest Stock Report on Palisade Bio

Palisade Bio Price Performance

Shares of NASDAQ PALI opened at $1.41 on Friday. The stock has a market capitalization of $245.72 million, a P/E ratio of -2.94 and a beta of 1.61. Palisade Bio has a one year low of $1.32 and a one year high of $2.85. The firm’s 50 day simple moving average is $1.82 and its two-hundred day simple moving average is $1.92.

Palisade Bio (NASDAQ:PALI – Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates 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, equities analysts expect that Palisade Bio will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in Palisade Bio in the second quarter valued at approximately $30,000. CTC Alternative Strategies Ltd. bought a new position in shares of Palisade Bio in the first quarter worth approximately $31,000. GSA Capital Partners LLP bought a new position in shares of Palisade Bio in the second quarter worth approximately $54,000. Two Sigma Securities LLC bought a new position in shares of Palisade Bio in the second quarter worth approximately $57,000. Finally, Susquehanna International Group LLP bought a new position in shares of Palisade Bio in the second quarter worth approximately $65,000. 11.79% of the stock is owned by hedge funds and other institutional investors.

Palisade Bio Company Profile

(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.

See Also