Palisade Bio (NASDAQ:PALI) Announces Quarterly Earnings Results, Beats Estimates By $1.10 EPS
by Mitch Edgeman · The Markets DailyPalisade Bio (NASDAQ:PALI – Get Free Report) released its quarterly earnings results on Friday. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $1.10, FiscalAI reports.
Palisade Bio Stock Down 5.0%
NASDAQ:PALI traded down $0.10 on Friday, hitting $1.89. The stock had a trading volume of 2,899,742 shares, compared to its average volume of 4,242,819. The company has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $1.69. The stock has a market cap of $281.61 million, a price-to-earnings ratio of -0.89 and a beta of 1.53. Palisade Bio has a 1-year low of $0.53 and a 1-year high of $2.64.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Piper Sandler began coverage on Palisade Bio in a report on Monday, December 29th. They issued an “overweight” rating and a $25.00 price objective for the company. Stifel Nicolaus began coverage on Palisade Bio in a research report on Wednesday, February 25th. They issued a “buy” rating and a $5.00 price objective on the stock. Wall Street Zen raised shares of Palisade Bio from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Palisade Bio in a research note on Thursday, January 22nd. Finally, B. Riley Financial started coverage on shares of Palisade Bio in a report on Friday, January 9th. They set a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Palisade Bio presently has a consensus rating of “Moderate Buy” and an average target price of $12.33.
Get Our Latest Research Report on Palisade Bio
Institutional Investors Weigh In On Palisade Bio
Institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC acquired a new position in Palisade Bio in the fourth quarter valued at $24,822,000. RA Capital Management L.P. purchased a new position in shares of Palisade Bio during the fourth quarter worth about $16,742,000. Franklin Resources Inc. purchased a new position in shares of Palisade Bio during the fourth quarter worth about $11,968,000. Adage Capital Partners GP L.L.C. acquired a new position in Palisade Bio in the 4th quarter valued at about $10,575,000. Finally, Squadron Capital Management LLC acquired a new position in Palisade Bio in the 4th quarter valued at about $10,575,000. 11.79% of the stock is owned by institutional investors and hedge funds.
About Palisade Bio
Palisade Bio, Inc is a clinical‐stage biotechnology company focused on pioneering localized immunotherapies for the treatment of cancer and inflammatory diseases. The company leverages a proprietary prodrug platform designed to activate therapeutic agents selectively within the tumor microenvironment or sites of inflammation. Its core strategy centers on stimulating the innate immune system via toll‐like receptor 9 (TLR9) agonism to drive targeted immune responses while minimizing systemic exposure and toxicity.
The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug currently in Phase 1/2 clinical trials for patients with advanced solid tumors.