Palisade Bio (NASDAQ:PALI) Given New $16.00 Price Target at Piper Sandler

Palisade Bio (NASDAQ:PALI) had its price objective cut by equities research analysts at Piper Sandler from $25.00 to $16.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock.

A number of other equities analysts have also issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Palisade Bio in a research note on Monday, October 12th. Raymond James Financial started coverage on Palisade Bio in a research report on Thursday, October 8th. They set an “outperform” rating and a $6.00 price target for the company. HC Wainwright dropped their price target on Palisade Bio to $5.00 and set a “buy” rating on the stock in a research note on Wednesday. Oppenheimer reissued an “outperform” rating on shares of Palisade Bio in a report on Wednesday, October 21st. Finally, Wall Street Zen cut Palisade Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Two equities research 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.com, the company presently has a consensus rating of “Buy” and an average target price of $7.71.

Palisade Bio Trading Up 3.1%

NASDAQ PALI opened at $1.17 on Wednesday. The company has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $1.83. The stock has a market cap of $203.02 million, a P/E ratio of -2.41 and a beta of 1.61. Palisade Bio has a 12-month low of $1.08 and a 12-month high of $2.85.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). As a group, sell-side analysts forecast that Palisade Bio will post -0.22 earnings per share for the current year.

Institutional Trading of Palisade Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Palisade Bio by 19.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock worth $117,000 after purchasing an additional 13,110 shares during the last quarter. Legal & General Group Plc acquired a new position in Palisade Bio during the second quarter valued at $30,000. CTC Alternative Strategies Ltd. acquired a new position in Palisade Bio during the first quarter valued at $31,000. WINTON GROUP Ltd lifted its position in Palisade Bio by 180.2% during the second quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock valued at $67,000 after purchasing an additional 20,727 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Palisade Bio in the second quarter valued at $54,000. Institutional investors and hedge funds own 11.79% of the company’s stock.

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.