Palisade Bio (NASDAQ:PALI) Trading 2.9% Higher – Here’s Why

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Brookline Capital Management started coverage on Palisade Bio in a research report on Wednesday, November 20th. They set a “buy” rating and a $38.00 price target on the stock. Maxim Group dropped their target price on 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 Down 2.8 %

The stock’s 50 day moving average price is $2.60 and its two-hundred day moving average price is $3.49. The firm has a market capitalization of $2.65 million, a price-to-earnings ratio of -0.13 and a beta of 1.39.

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

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 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.