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 note published on Friday, Benzinga reports. Maxim Group currently has $1.50 target price on the stock.

Palisade Bio Trading Down 0.8 %

Shares of PALI stock opened at $0.60 on Friday. The company has a market cap of $5.53 million, a price-to-earnings ratio of 0.04 and a beta of 1.60. Palisade Bio has a 12-month low of $0.50 and a 12-month high of $8.54. The stock has a 50 day simple moving average of $0.57 and a 200-day simple moving average of $1.15.

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

Institutional Trading of Palisade Bio

A number of institutional investors and hedge funds have recently made changes to their positions in PALI. Vanguard Group Inc. raised its holdings in 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 buying an additional 28,014 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Palisade Bio by 1,396.0% during the 3rd quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after acquiring an additional 477,840 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Palisade Bio during the 2nd quarter worth $72,000. Finally, State Street Corp acquired a new stake in Palisade Bio in the 2nd quarter valued at $38,000. 1.94% of the stock is currently owned by institutional investors and hedge funds.

About Palisade Bio

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.