Palisade Bio (NASDAQ:PALI) Announces Earnings Results

Palisade Bio (NASDAQ:PALI) announced its quarterly earnings data on Tuesday. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01), FiscalAI reports.

Palisade Bio Stock Down 5.0%

PALI stock traded down $0.06 during mid-day trading on Tuesday, reaching $1.13. 1,611,785 shares of the company traded hands, compared to its average volume of 3,611,124. The firm’s 50 day moving average price is $1.55 and its 200 day moving average price is $1.83. The stock has a market cap of $196.93 million, a price-to-earnings ratio of -2.35 and a beta of 1.61. Palisade Bio has a fifty-two week low of $1.08 and a fifty-two week high of $2.85.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wall Street Zen downgraded Palisade Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Raymond James Financial initiated coverage on Palisade Bio in a research note on Thursday, October 8th. They set an “outperform” rating and a $6.00 price target on the stock. Oppenheimer reiterated an “outperform” rating on shares of Palisade Bio in a report on Wednesday, October 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Palisade Bio in a research note on Tuesday, October 13th. Two 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $9.29.

Palisade Bio Company Profile

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.