Palisade Bio, Inc. (NASDAQ:PALI) Stock Has Consensus Target Price of $9.83

Palisade Bio, Inc. (NASDAQ:PALI) has been assigned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $9.83.

Several equities research analysts have recently commented on the company. Weiss Ratings lowered Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Palisade Bio in a research note on Wednesday, September 23rd. LADENBURG THALM/SH SH raised Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Oppenheimer initiated coverage on Palisade Bio in a report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 target price on the stock.

Palisade Bio Stock Up 1.4%

Shares of NASDAQ PALI opened at $1.46 on Friday. The stock has a market capitalization of $254.43 million, a price-to-earnings ratio of -3.04 and a beta of 1.61. Palisade Bio has a 52 week low of $1.32 and a 52 week high of $2.85. The firm has a 50-day moving average price of $1.91 and a 200 day moving average price of $1.95.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.50 million. Equities research analysts expect that Palisade Bio will post -0.23 EPS for the current fiscal year.

Insider Activity

In other Palisade Bio news, Director Robert Baltera acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were acquired at an average cost of $1.96 per share, for a total transaction of $49,000.00. Following the transaction, the director directly owned 461,904 shares of the company’s stock, valued at approximately $905,331.84. This represents a 5.72% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Palisade Bio

Several hedge funds have recently added to or reduced their stakes in PALI. Perceptive Advisors LLC acquired a new stake in shares of Palisade Bio in the fourth quarter valued at approximately $28,318,000. Commodore Capital LP purchased a new position in shares of Palisade Bio during the 4th quarter worth approximately $26,896,000. Jupiter Topco LLC acquired a new position in shares of Palisade Bio during the 2nd quarter worth approximately $22,394,000. BlackRock Inc. acquired a new position in shares of Palisade Bio during the 2nd quarter worth approximately $21,813,000. Finally, Eversept Partners LP purchased a new stake in Palisade Bio in the 4th quarter valued at approximately $12,670,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Palisade Bio Company Profile

Palisade Bio, Inc 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 designed to address intestinal inflammation, impaired barrier function and other factors that can delay recovery following surgery.

Palisade Bio’s lead product candidate is LB1148, an orally administered, locally acting serine protease inhibitor. The company has evaluated LB1148 for postoperative ileus, a temporary disruption of intestinal movement that can occur after abdominal surgery, as well as for other gastrointestinal conditions and surgery-related complications.

Palisade Bio is headquartered in San Diego, California, and has advanced LB1148 through clinical development.