Palisade Bio (NASDAQ:PALI) Earns Buy Rating from Maxim Group

Maxim Group reiterated their buy rating on shares of Palisade Bio (NASDAQ:PALI) in a report issued on Tuesday morning, Benzinga reports. They currently have a $22.50 price objective on the stock.

Palisade Bio Stock Performance

Palisade Bio stock opened at $5.07 on Tuesday. The business has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $7.63. Palisade Bio has a 52-week low of $3.82 and a 52-week high of $36.60.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Tuesday, March 26th. The company reported ($3.75) earnings per share (EPS) for the quarter. On average, equities research analysts expect that Palisade Bio will post -12.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Palisade Bio during the 4th quarter valued at about $31,000. Vanguard Group Inc. lifted its position in shares of Palisade Bio by 91.3% during the 3rd quarter. Vanguard Group Inc. now owns 68,054 shares of the company’s stock valued at $40,000 after buying an additional 32,485 shares in the last quarter. State Street Corp purchased a new position in shares of Palisade Bio during the 2nd quarter valued at about $38,000. Geode Capital Management LLC purchased a new position in shares of Palisade Bio during the 2nd quarter valued at about $72,000. Finally, Renaissance Technologies LLC lifted its position in shares of Palisade Bio by 1,396.0% during the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after buying an additional 477,840 shares in the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

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 LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.