Palisade Bio (NASDAQ:PALI) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Palisade Bio (NASDAQ:PALI) posted its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01), FiscalAI reports.

Palisade Bio Price Performance

Shares of NASDAQ:PALI traded down $0.02 during mid-day trading on Tuesday, reaching $1.92. 1,798,672 shares of the company were exchanged, compared to its average volume of 4,292,096. The firm has a market cap of $321.45 million, a price-to-earnings ratio of -0.91 and a beta of 1.52. The firm’s 50-day simple moving average is $1.98 and its 200 day simple moving average is $1.92. Palisade Bio has a 1 year low of $0.53 and a 1 year high of $2.86.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PALI shares. HC Wainwright started coverage on shares of Palisade Bio in a research note on Thursday, March 26th. They issued a “buy” rating and a $7.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a research note on Thursday, January 22nd. Wolfe Research started coverage on shares of Palisade Bio in a research note on Thursday, April 9th. They issued an “outperform” rating and a $7.00 price target for the company. Stifel Nicolaus started coverage on shares of Palisade Bio in a research note on Wednesday, February 25th. They issued a “buy” rating and a $5.00 price target for the company. Finally, Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.20.

Hedge Funds Weigh In On Palisade Bio

A number of hedge funds have recently made changes to their positions in PALI. Geode Capital Management LLC boosted its position in shares of Palisade Bio by 5,780.7% during the 4th quarter. Geode Capital Management LLC now owns 1,565,452 shares of the company’s stock worth $3,681,000 after purchasing an additional 1,538,832 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Palisade Bio during the 4th quarter worth approximately $1,310,000. TD Asset Management Inc purchased a new position in shares of Palisade Bio during the 4th quarter worth approximately $480,000. WINTON GROUP Ltd purchased a new position in shares of Palisade Bio during the 4th quarter worth approximately $35,000. Finally, Franklin Resources Inc. purchased a new position in shares of Palisade Bio during the 4th quarter worth approximately $11,968,000. Hedge funds and other institutional investors own 11.79% of the company’s stock.

Palisade Bio Company Profile

Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.