Palisade Bio (NASDAQ:PALI) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Palisade Bio (NASDAQ:PALI – Get Rating) from a sell rating to a hold rating in a research note published on Tuesday morning, Zacks.com reports.

According to Zacks, “Palisade Bio Inc. is a late-stage biopharma company advancing therapies which help patients with acute and chronic gastrointestinal complications stemming from post-operative digestive enzyme damage. Palisade Bio Inc., formerly known as Seneca Biopharma Inc., is based in CARLSBAD, Calif. “

Separately, LADENBURG THALM/SH SH began coverage on Palisade Bio in a research report on Wednesday, February 2nd. They issued a buy rating and a $5.00 target price on the stock.

NASDAQ:PALI opened at $0.51 on Tuesday. The stock’s 50 day moving average price is $0.88 and its two-hundred day moving average price is $1.39. Palisade Bio has a 12-month low of $0.40 and a 12-month high of $4.57.

Palisade Bio (NASDAQ:PALI – Get Rating) last posted its earnings results on Wednesday, March 16th. The company reported $0.74 EPS for the quarter. Equities research analysts predict that Palisade Bio will post -0.67 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Palisade Bio by 595.2% during the third quarter. Geode Capital Management LLC now owns 171,530 shares of the company’s stock worth $454,000 after purchasing an additional 146,855 shares during the last quarter. Vanguard Group Inc. lifted its stake in Palisade Bio by 11.5% during the first 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 last quarter. Renaissance Technologies LLC bought a new stake in Palisade Bio during the fourth quarter worth $105,000. Citadel Advisors LLC bought a new stake in Palisade Bio during the second quarter worth $42,000. Finally, Northern Trust Corp bought a new stake in Palisade Bio during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 7.88% of the company’s stock.

About Palisade Bio (Get Rating)

Palisade Bio, Inc, a clinical stage biopharmaceutical company, focuses on discovering, developing, and commercializing oral therapies that target serious diseases associated with the breakdown of the mucosal barrier protecting the gastrointestinal tract. Its lead therapeutic candidate is LB1148, an oral liquid formulation of the digestive enzyme inhibitor tranexamic acid intended to inhibit digestive enzyme activity and preserve gut integrity during intestinal stress caused by reduced blood flow to the intestine, infections, and surgery.

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