Palisade Bio (NASDAQ:PALI) Issues Earnings Results

Palisade Bio (NASDAQ:PALI) released its quarterly earnings data on Tuesday. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), FiscalAI reports.

Palisade Bio Price Performance

Shares of NASDAQ PALI traded down $0.06 during midday trading on Tuesday, hitting $1.13. 1,618,231 shares of the company’s stock were exchanged, compared to its average volume of 3,613,341. The stock’s 50 day moving average price is $1.55 and its 200-day moving average price is $1.83. The firm has a market cap of $196.93 million, a P/E ratio of -2.35 and a beta of 1.61. Palisade Bio has a twelve month low of $1.08 and a twelve month high of $2.85.

Analysts Set New Price Targets

Several research firms have recently commented on PALI. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Palisade Bio in a report on Tuesday, October 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Palisade Bio in a report on Monday, October 12th. Wall Street Zen downgraded Palisade Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Raymond James Financial initiated coverage on Palisade Bio in a report on Thursday, October 8th. They set an “outperform” rating and a $6.00 target price for the company. Finally, Oppenheimer reiterated an “outperform” rating on shares of Palisade Bio in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $9.29.

About Palisade Bio

Palisade Bio, Inc. (NASDAQ: PALI) 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 intended to protect the intestinal barrier and support recovery following major medical procedures. Palisade Bio’s lead product candidate, LB1148, is an orally administered serine protease inhibitor designed to reduce the harmful effects of digestive enzymes released during surgery or gastrointestinal injury.