Maxim Group Cuts Palisade Bio (NASDAQ:PALI) Price Target to $8.00

Palisade Bio (NASDAQ:PALI) had its price target reduced by Maxim Group from $22.50 to $8.00 in a report published on Wednesday,Benzinga reports. Maxim Group currently has a buy rating on the stock.

Palisade Bio Trading Down 3.8 %

Shares of Palisade Bio stock opened at $2.52 on Wednesday. The stock has a market capitalization of $3.35 million, a P/E ratio of -0.18 and a beta of 1.36. The business’s fifty day moving average price is $3.33 and its 200 day moving average price is $4.18. Palisade Bio has a twelve month low of $2.18 and a twelve month high of $22.35.

Palisade Bio (NASDAQ:PALI) last posted its earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.35) by $1.03. As a group, sell-side analysts predict that Palisade Bio will post -13.11 EPS for the current year.

About Palisade Bio

Palisade Bio, Inc, a clinical-stage biopharmaceutical company, focuses on focuses on developing therapeutics that protect the integrity of the intestinal barrier in the United States. The company's lead therapeutic candidate is PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.