Palisade Bio, Inc. (NASDAQ:PALI) Given Consensus Recommendation of “Buy” by Analysts

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have been given an average rating of “Buy” by the ten research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.00.

PALI has been the subject of a number of research reports. Weiss Ratings downgraded Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a report on Thursday, June 25th. Oppenheimer started coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $2.00 target price on shares of Palisade Bio in a report on Tuesday, June 30th.

Palisade Bio Price Performance

PALI stock opened at $2.05 on Tuesday. The company’s 50 day simple moving average is $2.03 and its 200-day simple moving average is $1.97. Palisade Bio has a 12 month low of $0.55 and a 12 month high of $2.86. The firm has a market capitalization of $357.26 million, a PE ratio of -4.27 and a beta of 1.53.

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, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $0.50 million. As a group, sell-side analysts anticipate that Palisade Bio will post -0.23 earnings per share for the current year.

Insider Activity at Palisade Bio

In other news, insider Mitchell Jones sold 51,880 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $2.05, for a total value of $106,354.00. Following the completion of the sale, the insider directly owned 94,009 shares of the company’s stock, valued at approximately $192,718.45. This represents a 35.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Robert Baltera acquired 30,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was bought at an average price of $2.03 per share, with a total value of $60,900.00. Following the completion of the acquisition, the director directly owned 416,904 shares of the company’s stock, valued at approximately $846,315.12. This represents a 7.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 125,000 shares of company stock worth $250,100 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On Palisade Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in Palisade Bio during the 2nd quarter valued at $30,000. CTC Alternative Strategies Ltd. acquired a new stake in shares of Palisade Bio in the first quarter worth $31,000. GSA Capital Partners LLP acquired a new stake in Palisade Bio during the 2nd quarter worth about $54,000. Two Sigma Securities LLC acquired a new stake in Palisade Bio during the 2nd quarter worth about $57,000. Finally, Susquehanna International Group LLP purchased a new position in Palisade Bio during the 2nd quarter valued at about $65,000. Institutional investors own 11.79% of the company’s stock.

About Palisade Bio

Palisade Bio, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for gastrointestinal diseases and conditions associated with intestinal inflammation, impaired gut-barrier function and complications following surgery.

The company’s lead product candidate is LB1148, an orally administered, non-absorbed pan-serine protease inhibitor. Palisade Bio is evaluating LB1148 for its potential to limit the harmful effects of digestive enzymes, reduce inflammation and support intestinal healing during the postoperative period.