Palisade Bio (NASDAQ:PALI) Rating Increased to Buy at Maxim Group

Palisade Bio (NASDAQ:PALI) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research report issued on Friday, Benzinga reports. The brokerage presently has a $1.50 target price on the stock. Maxim Group’s target price would indicate a potential upside of 147.93% from the company’s previous close.

Palisade Bio Stock Up 15.7 %

Shares of PALI opened at $0.61 on Friday. Palisade Bio has a 52-week low of $0.50 and a 52-week high of $8.54. The company has a market capitalization of $5.58 million, a PE ratio of 0.04 and a beta of 1.60. The stock has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $1.16.

Palisade Bio (NASDAQ:PALI) last issued its earnings results on Thursday, November 9th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.09). As a group, equities analysts anticipate that Palisade Bio will post -1.82 earnings per share for the current fiscal year.

Institutional Trading of Palisade Bio

A number of hedge funds and other institutional investors have recently modified their holdings of PALI. Vanguard Group Inc. increased its position in shares of Palisade Bio by 11.5% during the 1st quarter. Vanguard Group Inc. now owns 271,604 shares of the company’s stock worth $288,000 after purchasing an additional 28,014 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Palisade Bio by 1,396.0% during the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock worth $51,000 after purchasing an additional 477,840 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of Palisade Bio during the 2nd quarter worth about $72,000. Finally, State Street Corp acquired a new stake in shares of Palisade Bio during the 2nd quarter worth about $38,000. 1.94% of the stock is owned by institutional investors and hedge funds.

About Palisade Bio

Palisade Bio, Inc, a clinical-stage biopharmaceutical company, focuses on focuses on developing therapeutics that protect the integrity of the intestinal barrier in the United States. The company's lead therapeutic candidate is LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.