Palisade Bio (NASDAQ:PALI) Releases Quarterly Earnings Results, Beats Expectations By $1.03 EPS

Palisade Bio (NASDAQ:PALI) issued its quarterly earnings results on Tuesday. The company reported ($2.32) earnings per share for the quarter, topping the consensus estimate of ($3.35) by $1.03, Zacks reports.

Palisade Bio Price Performance

NASDAQ PALI traded up $0.07 on Thursday, hitting $2.27. 17,156 shares of the company’s stock were exchanged, compared to its average volume of 408,337. The firm has a market cap of $3.02 million, a price-to-earnings ratio of -0.16 and a beta of 1.36. The firm’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $4.21. Palisade Bio has a fifty-two week low of $2.18 and a fifty-two week high of $22.35.

Wall Street Analyst Weigh In

Separately, Maxim Group cut their price objective 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.

About Palisade Bio

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.