Palisade Bio (NASDAQ:PALI) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen downgraded shares of Palisade Bio (NASDAQ:PALI – Free Report) from a sell rating to a strong sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

PALI has been the subject of a number of other research reports. Oppenheimer reaffirmed an “outperform” rating on shares of Palisade Bio in a report on Wednesday, October 21st. HC Wainwright lowered their price target on shares of Palisade Bio to $5.00 and set a “buy” rating on the stock in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of Palisade Bio in a research report on Monday, October 12th. Finally, Raymond James Financial began coverage on shares of Palisade Bio in a research note on Thursday, October 8th. They set an “outperform” rating and a $6.00 price objective for the company. Two 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $9.00.

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Palisade Bio Trading Down 1.8%

Shares of PALI stock traded down $0.02 during trading on Friday, reaching $1.12. 1,458,544 shares of the company’s stock traded hands, compared to its average volume of 3,860,769. The company has a market capitalization of $200.79 million, a P/E ratio of -2.33 and a beta of 1.61. The firm’s 50-day moving average is $1.48 and its 200 day moving average is $1.82. Palisade Bio has a 1 year low of $1.08 and a 1 year high of $2.85.

Palisade Bio (NASDAQ:PALI – Get Free Report) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, sell-side analysts predict that Palisade Bio will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creek Drive Management Group LLC increased its position in shares of Palisade Bio by 54.5% during the 3rd quarter. Creek Drive Management Group LLC now owns 680,000 shares of the company’s stock valued at $918,000 after purchasing an additional 240,000 shares during the last quarter. ACT Capital Partners L.P. purchased a new position in shares of Palisade Bio during the third quarter worth approximately $415,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Palisade Bio by 19.3% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 81,000 shares of the company’s stock worth $117,000 after acquiring an additional 13,110 shares during the last quarter. WINTON GROUP Ltd raised its position in Palisade Bio by 180.2% in the 2nd quarter. WINTON GROUP Ltd now owns 32,227 shares of the company’s stock worth $67,000 after purchasing an additional 20,727 shares during the period. Finally, PCG Wealth Advisors LLC purchased a new position in Palisade Bio in the 2nd quarter worth $86,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Recent Palisade Bio Headlines

Investors following PALI have been watching these headlines:

Palisade Bio Company Profile

(Get Free Report)

Palisade Bio is a clinical-stage biopharmaceutical company developing therapies for gastrointestinal diseases, with a focus on oral treatments for inflammatory bowel conditions. Its pipeline includes PALI-2108, an investigational, gut-targeted PDE4 inhibitor being developed for ulcerative colitis and fibrostenotic Crohn’s disease. The company has also developed LB1148, an investigational serine protease inhibitor studied for its potential to support bowel function and reduce complications after abdominal surgery.

Further Reading

Analyst Recommendations for Palisade Bio (NASDAQ:PALI)

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