Palisade Bio (NASDAQ:PALI) Announces Earnings Results, Misses Estimates By $0.06 EPS

Palisade Bio (NASDAQ:PALI) announced its quarterly earnings data on Monday. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.06), Zacks reports.

Palisade Bio Trading Up 5.4%

PALI stock traded up $0.09 on Monday, hitting $1.77. 2,086,803 shares of the company’s stock traded hands, compared to its average volume of 2,940,060. The stock has a market cap of $235.41 million, a price-to-earnings ratio of -0.44 and a beta of 1.59. Palisade Bio has a 1-year low of $0.53 and a 1-year high of $3.30. The stock has a fifty day moving average of $1.30 and a 200-day moving average of $0.96.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PALI shares. Wall Street Zen upgraded shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, Palisade Bio currently has a consensus rating of “Hold” and a consensus price target of $12.00.

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.