Palisade Bio’s (PALI) “Buy” Rating Reaffirmed at HC Wainwright

Palisade Bio (NASDAQ:PALI)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $7.00 price target on the stock. HC Wainwright’s price objective would suggest a potential upside of 382.76% from the stock’s current price.

Several other research analysts have also commented on PALI. Weiss Ratings lowered Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. LADENBURG THALM/SH SH upgraded Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Oppenheimer assumed coverage on shares of Palisade Bio in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $8.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.83.

Palisade Bio Stock Down 3.3%

PALI traded down $0.05 on Wednesday, hitting $1.45. The company had a trading volume of 2,161,953 shares, compared to its average volume of 3,657,776. The company has a market cap of $252.69 million, a PE ratio of -3.02 and a beta of 1.53. Palisade Bio has a 12-month low of $0.83 and a 12-month high of $2.86. The business’s fifty day simple moving average is $1.97 and its 200 day simple moving average is $1.97.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, analysts anticipate that Palisade Bio will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert Baltera acquired 25,000 shares of the firm’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average price of $1.96 per share, with a total value of $49,000.00. Following the completion of the purchase, the director directly owned 461,904 shares in the company, valued at approximately $905,331.84. This trade represents a 5.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Finley sold 146,798 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total transaction of $303,871.86. Following the completion of the sale, the chief executive officer directly owned 217,555 shares of the company’s stock, valued at approximately $450,338.85. The trade was a 40.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders bought a total of 125,000 shares of company stock valued at $250,100 over the last 90 days. Insiders own 0.07% of the company’s stock.

Institutional Trading of Palisade Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd raised its stake in shares of 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 acquiring an additional 20,727 shares in the last quarter. PCG Wealth Advisors LLC bought a new stake in shares of Palisade Bio during the second quarter valued at approximately $86,000. Susquehanna International Group LLP bought a new stake in shares of Palisade Bio during the second quarter valued at approximately $65,000. Two Sigma Securities LLC bought a new stake in shares of Palisade Bio during the second quarter valued at approximately $57,000. Finally, Wellington Management Group LLP raised its stake in shares of Palisade Bio by 27.5% during the second quarter. Wellington Management Group LLP now owns 3,703,936 shares of the company’s stock valued at $7,741,000 after acquiring an additional 799,025 shares in the last quarter. Institutional investors own 11.79% of the company’s stock.

Palisade Bio Company Profile

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.