Piper Sandler has upgraded shares of Palisade Bio (NASDAQ: PALI) to a strong-buy rating, according to a research note released to investors on Monday, March 15, 2024. The brokerage has established a price target of $25.00 for the stock, reflecting optimism about the company’s future performance in the biotechnology sector.
Other analysts have recently shared their insights regarding Palisade Bio’s stock. Weiss Ratings reiterated a “sell (e+)” rating on October 8, while Citigroup maintained a “buy” rating on November 11. Additionally, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating on December 20. Currently, one analyst has classified the stock as a strong buy, two have assigned it a buy rating, and one has issued a sell rating. According to data from MarketBeat, Palisade Bio has an average rating of “moderate buy” with a consensus target price of $20.50.
The stock has recently shown significant movement, trading up 15.3%. Palisade Bio published its quarterly earnings data on November 10, revealing an earnings per share (EPS) of ($0.38), which fell short of analysts’ expectations of ($0.32) by ($0.06). Looking ahead, analysts forecast that the company will report an EPS of ($12.43) for the current fiscal year.
Palisade Bio’s Focus and Product Development
Palisade Bio, Inc. is a clinical-stage biotechnology company dedicated to developing localized immunotherapies aimed at treating cancer and inflammatory diseases. The company utilizes a proprietary prodrug platform that activates therapeutic agents specifically within the tumor microenvironment or areas of inflammation.
Palisade Bio’s primary strategy involves stimulating the innate immune system using toll-like receptor 9 (TLR9) agonism. This approach is intended to elicit targeted immune responses while minimizing systemic exposure and potential toxicity. The company’s lead product candidate, PDS0108, is an intratumoral TLR9 agonist prodrug that is currently undergoing Phase 1/2 clinical trials for patients diagnosed with advanced solid tumors.
Investors and analysts alike will be closely monitoring Palisade Bio’s developments as the company continues to advance its innovative therapies. With a strong buy rating from Piper Sandler, the future looks promising for Palisade Bio in the competitive biotechnology landscape.
