Palisade Bio (NASDAQ:PALI) Stock Rating Upgraded by Zacks Investment Research

Palisade Bio (NASDAQ:PALIGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, reports.

According to Zacks, “Palisade Bio Inc. is a late-stage biopharma company advancing therapies which help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio Inc., formerly known as Seneca Biopharma Inc., is based in CARLSBAD, Calif. “

Separately, LADENBURG THALM/SH SH started coverage on Palisade Bio in a report on Wednesday, February 2nd. They issued a “buy” rating and a $5.00 price objective for the company.

Shares of NASDAQ:PALI opened at $0.90 on Wednesday. Palisade Bio has a 1-year low of $0.76 and a 1-year high of $11.28. The business has a fifty day moving average price of $0.98 and a 200-day moving average price of $1.62.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in Palisade Bio in the 2nd quarter worth about $42,000. Northern Trust Corp bought a new stake in Palisade Bio in the 4th quarter worth about $30,000. BlackRock Inc. increased its holdings in Palisade Bio by 16.7% in the 3rd quarter. BlackRock Inc. now owns 28,841 shares of the company’s stock worth $76,000 after buying an additional 4,134 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Palisade Bio in the 4th quarter worth about $105,000. Finally, Sargent Investment Group LLC bought a new stake in shares of Palisade Bio during the 3rd quarter valued at about $278,000. Institutional investors own 5.83% of the company’s stock.

Palisade Bio Company Profile (Get Rating)

Palisade Bio, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing oral therapies that target serious diseases associated with the breakdown of the mucosal barrier protecting the gastrointestinal tract. Its lead therapeutic candidate is LB1148, an oral liquid formulation of the digestive enzyme inhibitor intended to inhibit digestive enzyme activity and preserve gut integrity during intestinal stress, such as results from reduced blood flow to the intestine, infections, and surgery.

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