Palisade Bio, Inc. (NASDAQ:PALI) Given Average Rating of “Buy” by Brokerages

Shares of Palisade Bio, Inc. (NASDAQ:PALI) have earned an average recommendation of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $9.00.

PALI has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $2.00 target price on shares of Palisade Bio in a report on Tuesday, June 30th. Weiss Ratings downgraded Palisade Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. LADENBURG THALM/SH SH raised shares of Palisade Bio to a “strong-buy” rating in a research report on Thursday, June 25th. Finally, Oppenheimer began coverage on shares of Palisade Bio in a research note on Thursday, July 23rd. They set an “outperform” rating and a $8.00 target price for the company.

Insider Activity at Palisade Bio

In other news, Director Robert Jr. Baltera acquired 30,000 shares of Palisade Bio stock in a transaction dated Tuesday, July 7th. The stock was bought at an average price of $2.03 per share, for a total transaction of $60,900.00. Following the completion of the acquisition, the director directly owned 416,904 shares in the company, valued at approximately $846,315.12. The trade was a 7.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John David Finley sold 146,798 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $2.07, for a total value of $303,871.86. Following the sale, the chief executive officer owned 217,555 shares of the company’s stock, valued at approximately $450,338.85. This represents a 40.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have purchased 125,000 shares of company stock worth $250,100. Insiders own 0.07% of the company’s stock.

Institutional Trading of Palisade Bio

Several hedge funds have recently added to or reduced their stakes in PALI. Cetera Investment Advisers acquired a new position in Palisade Bio in the 4th quarter valued at $25,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Palisade Bio in the fourth quarter valued at about $26,000. Virtu Financial LLC acquired a new position in shares of Palisade Bio in the fourth quarter valued at about $28,000. Legal & General Group Plc acquired a new position in shares of Palisade Bio in the second quarter valued at about $30,000. Finally, CTC Alternative Strategies Ltd. bought a new position in Palisade Bio during the first quarter worth about $31,000. 11.79% of the stock is owned by institutional investors and hedge funds.

Palisade Bio Stock Performance

Palisade Bio stock opened at $2.06 on Friday. The stock has a 50-day simple moving average of $1.98 and a 200 day simple moving average of $1.93. The stock has a market capitalization of $359.00 million, a P/E ratio of -4.29 and a beta of 1.52. Palisade Bio has a 52 week low of $0.53 and a 52 week high of $2.86.

Palisade Bio (NASDAQ:PALI) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $0.50 million. Research analysts forecast that Palisade Bio will post -0.23 earnings per share for the current year.

About Palisade Bio

Palisade Bio, Inc is a clinical?stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll?like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.

The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.