Palisade Bio (NASDAQ:PALI) Posts Earnings Results, Beats Estimates By $1.03 EPS

Palisade Bio (NASDAQ:PALI) announced its quarterly earnings data on Tuesday. The company reported ($2.32) EPS for the quarter, beating the consensus estimate of ($3.35) by $1.03, Zacks reports.

Palisade Bio Stock Performance

PALI stock traded up $0.07 on Thursday, reaching $2.27. The company had a trading volume of 17,156 shares, compared to its average volume of 408,337. The company’s fifty day moving average is $3.37 and its 200 day moving average is $4.21. The company has a market cap of $3.02 million, a P/E ratio of -0.16 and a beta of 1.36. Palisade Bio has a 1 year low of $2.18 and a 1 year high of $22.35.

Analyst Upgrades and Downgrades

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