Palisade Bio (NASDAQ:PALI) Issues Earnings Results

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

Palisade Bio Price Performance

Shares of PALI stock traded down $0.12 on Wednesday, hitting $2.26. 46,465 shares of the stock traded hands, compared to its average volume of 410,090. The firm has a market cap of $3.01 million, a price-to-earnings ratio of -0.17 and a beta of 1.36. Palisade Bio has a 52 week low of $2.18 and a 52 week high of $22.35. The firm has a 50 day simple moving average of $3.40 and a two-hundred day simple moving average of $4.23.

Analyst Upgrades and Downgrades

Separately, Maxim Group lowered their price target on shares of Palisade Bio from $22.50 to $8.00 and set a “buy” rating on the stock in a report 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.