Palisade Bio (NASDAQ:PALI) Lifted to “Buy” at Maxim Group

Maxim Group upgraded shares of Palisade Bio (NASDAQ:PALI) from a hold rating to a buy rating in a research report report published on Friday, Benzinga reports. Maxim Group currently has $1.50 price objective on the stock.

Palisade Bio Trading Down 0.8 %

Shares of Palisade Bio stock opened at $0.60 on Friday. The business has a 50-day moving average price of $0.57 and a two-hundred day moving average price of $1.15. Palisade Bio has a 1-year low of $0.50 and a 1-year high of $8.54. The company has a market cap of $5.53 million, a P/E ratio of 0.04 and a beta of 1.60.

Palisade Bio (NASDAQ:PALI) last issued its quarterly earnings results on Thursday, November 9th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.09). Equities research analysts forecast that Palisade Bio will post -1.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Palisade Bio

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp bought a new position in shares of Palisade Bio during the 2nd quarter worth approximately $38,000. Geode Capital Management LLC bought a new stake in shares of Palisade Bio in the 2nd quarter worth approximately $72,000. Vanguard Group Inc. raised its holdings in shares of Palisade Bio by 11.5% in the 1st quarter. Vanguard Group Inc. now owns 271,604 shares of the company’s stock worth $288,000 after purchasing an additional 28,014 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Palisade Bio by 1,396.0% in the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock worth $51,000 after purchasing an additional 477,840 shares during the period. Institutional investors and hedge funds own 1.94% of the company’s stock.

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 LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid to reduce the formation of postoperative adhesions, postoperative ileus, and return of bowel function in adults.