Palisade Bio (NASDAQ:PALI) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Palisade Bio (NASDAQ:PALI) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Palisade Bio in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

Palisade Bio Trading Up 1.2%

Shares of NASDAQ PALI traded up $0.02 during mid-day trading on Friday, hitting $1.68. The company had a trading volume of 4,010,054 shares, compared to its average volume of 4,988,673. Palisade Bio has a 1 year low of $0.53 and a 1 year high of $3.30. The company has a market capitalization of $15.32 million, a price-to-earnings ratio of -0.41 and a beta of 1.60. The stock’s 50-day moving average price is $1.30 and its 200-day moving average price is $0.96.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Monday, August 11th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.10). As a group, equities research analysts forecast that Palisade Bio will post -12.43 earnings per share for the current year.

Hedge Funds Weigh In On Palisade Bio

A hedge fund recently raised its stake in Palisade Bio stock. Armistice Capital LLC lifted its position in shares of Palisade Bio, Inc. (NASDAQ:PALI) by 37.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,764 shares of the company’s stock after buying an additional 39,397 shares during the period. Armistice Capital LLC owned about 3.29% of Palisade Bio worth $99,000 as of its most recent SEC filing. 11.79% of the stock is owned by institutional investors.

Palisade Bio Company Profile

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 PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.