Palisade Bio (NASDAQ:PALI) Now Covered by Analysts at Raymond James Financial

Analysts at Raymond James Financial assumed coverage on shares of Palisade Bio (NASDAQ:PALI) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm set a “moderate buy” rating on the stock.

Several other research analysts have also commented on PALI. Wall Street Zen raised 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 note on Thursday, June 25th. Oppenheimer initiated coverage on shares of Palisade Bio in a research report on Thursday, July 23rd. They set an “outperform” rating and a $8.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Palisade Bio in a report on Wednesday, September 23rd. Finally, Weiss Ratings downgraded shares of Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.29.

Palisade Bio Stock Performance

NASDAQ:PALI opened at $1.54 on Thursday. The firm has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $1.93. Palisade Bio has a one year low of $1.32 and a one year high of $2.85. The firm has a market cap of $268.38 million, a P/E ratio of -3.21 and a beta of 1.61.

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

Institutional Investors Weigh In On Palisade Bio

A number of large investors have recently modified their holdings of PALI. BlackRock Inc. acquired a new stake in Palisade Bio in the 2nd quarter worth approximately $21,813,000. Bank of New York Mellon Corp purchased a new position in shares of Palisade Bio in the second quarter worth $728,000. Wellington Management Group LLP lifted 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 worth $7,741,000 after buying an additional 799,025 shares during the period. Commodore Capital LP purchased a new stake in shares of Palisade Bio during the fourth quarter valued at $26,896,000. Finally, Octagon Capital Advisors LP grew its holdings in shares of Palisade Bio by 7.4% during the first quarter. Octagon Capital Advisors LP now owns 10,276,317 shares of the company’s stock valued at $17,984,000 after buying an additional 708,419 shares during the last quarter. Hedge funds and other 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 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.