Palisade Bio, Inc. (NASDAQ:PALI) Stock Now Rated “Buy” by Sell-Side Analysts

Palisade Bio, Inc. (NASDAQ:PALI) has been assigned a consensus rating of “Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $9.29.

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

Hedge Funds Weigh In On Palisade Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its stake in shares of Palisade Bio by 19.3% in the third quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock worth $117,000 after buying an additional 13,110 shares during the last quarter. WINTON GROUP Ltd increased its stake in Palisade Bio by 180.2% in the 2nd quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after purchasing an additional 20,727 shares in the last quarter. PCG Wealth Advisors LLC acquired a new stake in shares of Palisade Bio in the second quarter valued at about $86,000. Susquehanna International Group LLP acquired a new position in Palisade Bio during the 2nd quarter worth $65,000. Finally, Two Sigma Securities LLC acquired a new position in Palisade Bio during the second quarter worth $57,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Palisade Bio Price Performance

Shares of PALI opened at $1.16 on Wednesday. The firm has a 50 day simple moving average of $1.65 and a two-hundred day simple moving average of $1.85. The company has a market cap of $202.15 million, a P/E ratio of -2.42 and a beta of 1.61. Palisade Bio has a one year low of $1.10 and a one year high of $2.85.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, analysts expect that Palisade Bio will post -0.22 earnings per share for the current fiscal year.

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.