Palisade Bio (NASDAQ:PALI) Rating Reiterated by Maxim Group

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

Palisade Bio Stock Performance

Shares of Palisade Bio stock opened at $4.71 on Tuesday. Palisade Bio has a one year low of $3.82 and a one year high of $36.60. The company has a market cap of $4.00 million, a PE ratio of -0.17 and a beta of 1.33. The business has a 50-day simple moving average of $5.79 and a 200-day simple moving average of $7.60.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Tuesday, March 26th. The company reported ($3.75) EPS for the quarter. On average, sell-side analysts predict that Palisade Bio will post -12.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in Palisade Bio in the second quarter valued at approximately $38,000. Geode Capital Management LLC acquired a new position in Palisade Bio in the second quarter valued at approximately $72,000. Virtu Financial LLC acquired a new position in Palisade Bio in the fourth quarter valued at approximately $31,000. Vanguard Group Inc. boosted its holdings in Palisade Bio by 91.3% in the third quarter. Vanguard Group Inc. now owns 68,054 shares of the company’s stock valued at $40,000 after purchasing an additional 32,485 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Palisade Bio by 1,396.0% in the third quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after purchasing an additional 477,840 shares in the last quarter. 11.79% of the stock is owned by institutional investors and hedge funds.

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.