Palisade Bio’s (PALI) Buy Rating Reiterated at HC Wainwright

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 340.25% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Raymond James Financial assumed coverage on Palisade Bio in a research note on Thursday. They issued an “outperform” rating and a $6.00 target price for the company. Oppenheimer assumed coverage on Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a report on Monday. LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen raised Palisade Bio from a “sell” rating to a “hold” rating in a report on Saturday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.29.

Palisade Bio Stock Up 3.2%

PALI stock opened at $1.59 on Tuesday. The stock has a market capitalization of $277.09 million, a PE ratio of -3.31 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 of $1.87 and a 200 day moving average of $1.93.

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

Institutional Investors Weigh In On Palisade Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in shares of Palisade Bio during the 2nd quarter valued at about $30,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Palisade Bio in the 1st quarter valued at about $31,000. WINTON GROUP Ltd boosted its stake 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 during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Palisade Bio in the second quarter worth about $54,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Palisade Bio in the second quarter worth about $57,000. 11.79% of the stock is owned by institutional investors and hedge funds.

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.