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

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

Palisade Bio Price Performance

Palisade Bio stock traded down $0.11 during mid-day trading on Wednesday, reaching $2.27. The company had a trading volume of 44,547 shares, compared to its average volume of 410,067. The stock’s 50-day simple moving average is $3.40 and its 200-day simple moving average is $4.23. The company has a market capitalization of $3.02 million, a P/E ratio of -0.17 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 decreased 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.

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.