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

Palisade Bio (NASDAQ:PALI) had its price objective cut by investment analysts at Maxim Group from $22.50 to $8.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 205.34% from the stock’s previous close.

Palisade Bio Trading Up 19.1 %

Shares of NASDAQ PALI opened at $2.62 on Wednesday. The stock has a fifty day moving average price of $3.35 and a 200 day moving average price of $4.20. Palisade Bio has a 12-month low of $2.18 and a 12-month high of $22.35.

Palisade Bio (NASDAQ:PALI) last posted its earnings results on Tuesday, November 12th. The company reported ($2.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.35) by $1.03. On average, equities analysts expect 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.