Palisade Bio (NASDAQ:PALI) Earns Buy Rating from Maxim Group

Maxim Group reissued their buy rating on shares of Palisade Bio (NASDAQ:PALI) in a report published on Tuesday, Benzinga reports. The firm currently has a $22.50 price target on the stock.

Palisade Bio Stock Performance

PALI opened at $5.07 on Tuesday. The firm has a 50-day moving average of $5.83 and a 200 day moving average of $7.63. Palisade Bio has a fifty-two week low of $3.82 and a fifty-two week high of $36.60.

Palisade Bio (NASDAQ:PALI) last posted its quarterly earnings results on Tuesday, March 26th. The company reported ($3.75) earnings per share for the quarter. On average, equities analysts forecast that Palisade Bio will post -12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palisade Bio

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Palisade Bio during the fourth quarter valued at about $31,000. Vanguard Group Inc. lifted its holdings in Palisade Bio by 91.3% during the third quarter. Vanguard Group Inc. now owns 68,054 shares of the company’s stock valued at $40,000 after purchasing an additional 32,485 shares during the last quarter. State Street Corp purchased a new stake in Palisade Bio during the second quarter valued at about $38,000. Geode Capital Management LLC purchased a new stake in Palisade Bio during the second quarter valued at about $72,000. Finally, Renaissance Technologies LLC lifted its holdings in Palisade Bio by 1,396.0% during the third quarter. Renaissance Technologies LLC now owns 512,070 shares of the company’s stock valued at $51,000 after purchasing an additional 477,840 shares during the last quarter. 11.79% of the stock is owned by hedge funds and other institutional investors.

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.