Palisade Bio (NASDAQ:PALI) Issues Quarterly Earnings Results

Palisade Bio (NASDAQ:PALI) released its quarterly earnings data on Tuesday. The company reported ($2.32) EPS for the quarter, topping analysts’ consensus estimates of ($3.35) by $1.03, Zacks reports.

Palisade Bio Stock Performance

Shares of PALI traded up $0.42 during mid-day trading on Thursday, reaching $2.62. 100,518 shares of the company’s stock traded hands, compared to its average volume of 408,717. Palisade Bio has a 12 month low of $2.18 and a 12 month high of $22.35. The stock has a market capitalization of $3.48 million, a P/E ratio of -0.19 and a beta of 1.36. The business’s 50-day moving average price is $3.35 and its 200-day moving average price is $4.20.

Analyst Upgrades and Downgrades

Separately, Maxim Group reduced their target price on Palisade Bio from $22.50 to $8.00 and set a “buy” rating for the company in a research note on Wednesday.

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.