Palisade Bio, Inc. (NASDAQ:PALI) Stock Has Average Price Target of $9.29

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have received an average recommendation of “Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.29.

A number of research firms recently commented on PALI. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a report on Monday, October 12th. Wall Street Zen cut shares of Palisade Bio from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Oppenheimer restated an “outperform” rating on shares of Palisade Bio in a research report on Wednesday, October 21st. Raymond James Financial began coverage on shares of Palisade Bio in a research report on Thursday, October 8th. They issued an “outperform” rating and a $6.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Palisade Bio in a research report on Tuesday, October 13th.

Palisade Bio Stock Up 9.8%

PALI stock opened at $1.23 on Wednesday. The company has a market capitalization of $214.35 million, a P/E ratio of -2.56 and a beta of 1.61. The company has a 50-day simple moving average of $1.62 and a 200 day simple moving average of $1.84. Palisade Bio has a fifty-two week low of $1.08 and a fifty-two week high of $2.85.

Palisade Bio (NASDAQ:PALI) last issued its quarterly 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 for the quarter, compared to analyst estimates of $0.50 million. Equities analysts anticipate that Palisade Bio will post -0.22 EPS for the current year.

Institutional Trading of Palisade Bio

A number of hedge funds have recently modified their holdings of PALI. China Universal Asset Management Co. Ltd. increased its holdings in shares of Palisade Bio by 19.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock valued at $117,000 after purchasing an additional 13,110 shares during the period. Legal & General Group Plc purchased a new stake in shares of Palisade Bio in the second quarter worth approximately $30,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Palisade Bio during the first quarter worth approximately $31,000. WINTON GROUP Ltd boosted its holdings in shares of Palisade Bio by 180.2% during the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after purchasing an additional 20,727 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Palisade Bio during the second quarter valued at approximately $54,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

About Palisade Bio

Palisade Bio, Inc (NASDAQ: PALI) 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 intended to protect the intestinal barrier and support recovery following major medical procedures.

Palisade Bio’s lead product candidate, LB1148, is an orally administered serine protease inhibitor designed to reduce the harmful effects of digestive enzymes released during surgery or gastrointestinal injury.