Wall Street Zen Upgrades Palisade Bio (NASDAQ:PALI) to Hold

Palisade Bio (NASDAQ:PALI) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Palisade Bio in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.00.

Palisade Bio Trading Up 1.2%

PALI opened at $1.68 on Friday. The stock has a 50-day moving average price of $1.30 and a 200-day moving average price of $0.96. Palisade Bio has a 12-month low of $0.53 and a 12-month high of $3.30. The stock has a market capitalization of $15.32 million, a P/E ratio of -0.41 and a beta of 1.60.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.10). On average, equities research analysts predict that Palisade Bio will post -12.43 EPS for the current year.

Institutional Investors Weigh In On Palisade Bio

A hedge fund recently raised its stake in Palisade Bio stock. Armistice Capital LLC boosted its position in Palisade Bio, Inc. (NASDAQ:PALI) by 37.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,764 shares of the company’s stock after acquiring an additional 39,397 shares during the period. Armistice Capital LLC owned 3.29% of Palisade Bio worth $99,000 at the end of the most recent reporting period. 11.79% of the stock is owned by institutional investors and hedge funds.

Palisade Bio Company Profile

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 PALI-2108, a prodrug PDE4 inhibitor, currently under pre-clinical development as a therapeutic for patients living with inflammatory bowel diseases, including ulcerative colitis and Crohn's disease (CD), as well as develops PALI-1908, an oral, selective PDE4 inhibitor prodrug that is locally bioactivated in the terminal ileum of CD patients, currently in the research stage.