Palisade Bio (NASDAQ:PALI) Price Target Cut to $5.00 by Analysts at HC Wainwright

Palisade Bio (NASDAQ:PALI) had its target price cut by equities researchers at HC Wainwright from $7.00 to $5.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s price target indicates a potential upside of 342.48% from the company’s current price.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Palisade Bio from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Raymond James Financial started coverage on shares of Palisade Bio in a report on Thursday, October 8th. They issued an “outperform” rating and a $6.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Finally, Oppenheimer reissued an “outperform” rating on shares of Palisade Bio in a report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Palisade Bio has an average rating of “Buy” and an average price target of $9.00.

Palisade Bio Trading Down 5.0%

Palisade Bio stock opened at $1.13 on Wednesday. Palisade Bio has a 12-month low of $1.08 and a 12-month high of $2.85. The firm has a market capitalization of $196.93 million, a price-to-earnings ratio of -2.35 and a beta of 1.61. The firm has a 50 day moving average of $1.53 and a 200 day moving average of $1.83.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, analysts predict that Palisade Bio will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creek Drive Management Group LLC grew its holdings in Palisade Bio by 54.5% during the 3rd quarter. Creek Drive Management Group LLC now owns 680,000 shares of the company’s stock valued at $918,000 after buying an additional 240,000 shares in the last quarter. ACT Capital Partners L.P. bought a new stake in shares of Palisade Bio during the third quarter valued at approximately $415,000. China Universal Asset Management Co. Ltd. lifted its holdings 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 in the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Palisade Bio by 180.2% in the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after buying an additional 20,727 shares in the last quarter. Finally, PCG Wealth Advisors LLC purchased a new position in shares of Palisade Bio in the second quarter worth $86,000. 11.79% of the stock is currently owned by institutional investors.

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.