Maxim Group Issues Pessimistic Forecast for Palisade Bio (NASDAQ:PALI) Stock Price

Palisade Bio (NASDAQ:PALI) had its price objective lowered by Maxim Group from $22.50 to $8.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Palisade Bio Trading Down 3.8 %

NASDAQ:PALI opened at $2.52 on Wednesday. The business’s 50-day moving average is $3.33 and its 200 day moving average is $4.16. Palisade Bio has a 12 month low of $2.18 and a 12 month high of $22.35.

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

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.