Palisade Bio (NASDAQ:PALI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Palisade Bio (NASDAQ:PALIGet Rating) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. They currently have $0.50 price target on the stock.

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 initiated coverage on shares of Palisade Bio in a research report on Wednesday, February 2nd. They set a buy rating and a $5.00 price objective on the stock.

NASDAQ PALI opened at $0.51 on Thursday. The company has a fifty day moving average of $0.79 and a 200 day moving average of $1.22. The company has a market capitalization of $11.20 million, a PE ratio of -0.16 and a beta of 1.63. Palisade Bio has a 1 year low of $0.40 and a 1 year high of $4.57.

Palisade Bio (NASDAQ:PALIGet Rating) last issued its quarterly earnings data on Friday, May 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.02. As a group, equities analysts predict that Palisade Bio will post -0.57 earnings per share for the current year.

Several large investors have recently modified their holdings of PALI. Vanguard Group Inc. lifted its stake in shares of Palisade Bio by 11.5% in the first quarter. Vanguard Group Inc. now owns 271,604 shares of the company’s stock valued at $288,000 after purchasing an additional 28,014 shares during the period. Altium Capital Management LP acquired a new stake in shares of Palisade Bio in the fourth quarter valued at about $434,000. Geode Capital Management LLC lifted its stake in shares of Palisade Bio by 21.6% in the fourth quarter. Geode Capital Management LLC now owns 208,563 shares of the company’s stock valued at $271,000 after purchasing an additional 37,033 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Palisade Bio in the fourth quarter valued at about $105,000. Finally, Northern Trust Corp acquired a new stake in shares of Palisade Bio in the fourth quarter valued at about $30,000. 7.88% of the stock is currently owned by institutional investors and hedge funds.

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 tranexamic acid intended to inhibit digestive enzyme activity and preserve gut integrity during intestinal stress caused by reduced blood flow to the intestine, infections, and surgery.

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