Palisade Bio (NASDAQ:PALI) Trading 2.9% Higher – Still a Buy?

Palisade Bio, Inc. (NASDAQ:PALI)’s share price was up 2.9% during trading on Thursday . The company traded as high as $1.90 and last traded at $1.80. Approximately 249,222 shares traded hands during trading, a decline of 63% from the average daily volume of 672,779 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

A number of brokerages have issued reports on PALI. Brookline Capital Management started coverage on Palisade Bio in a research note on Wednesday, November 20th. They issued a “buy” rating and a $38.00 price objective for the company. Maxim Group cut their price target on shares of Palisade Bio from $22.50 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Palisade Bio Stock Performance

The company has a market cap of $2.73 million, a PE ratio of -0.13 and a beta of 1.39. The company’s 50 day moving average price is $2.63 and its 200-day moving average price is $3.51.

Palisade Bio (NASDAQ:PALI) last released its earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.35) by $1.03. Equities research analysts expect that Palisade Bio, Inc. will post -12.43 EPS for the current year.

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.