Maxim Group Lowers Palisade Bio (NASDAQ:PALI) Price Target to $8.00

Palisade Bio (NASDAQ:PALI) had its price objective cut by stock analysts at Maxim Group from $22.50 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price indicates a potential upside of 244.83% from the company’s current price.

Palisade Bio Price Performance

Shares of NASDAQ:PALI traded down $0.06 during midday trading on Wednesday, hitting $2.32. The stock had a trading volume of 25,028 shares, compared to its average volume of 409,992. The company’s 50-day moving average price is $3.40 and its 200-day moving average price is $4.23. Palisade Bio has a fifty-two week low of $2.18 and a fifty-two week high of $22.35.

Palisade Bio (NASDAQ:PALI) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($2.32) EPS for the quarter, beating the consensus estimate of ($3.35) by $1.03. On average, equities research analysts predict that Palisade Bio will post -13.11 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.