Why Is Palisade Bio (PALI) Stock Up 36% Today?

  • Palisade Bio (PALI) stock is climbing alongside an analyst upgrade.
  • Maxim Group bumped the stock up to a “buy” rating.
  • This brought heavy trading to the company’s shares today.
PALI Stock - Why Is Palisade Bio (PALI) Stock Up 36% Today?

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Palisade Bio (NASDAQ:PALI) stock is on the rise Friday after the biopharmaceutical company got an upgrade from an analyst.

Maxim Group is behind today’s upgrade for PALI stock. This saw its analysts upgrade the company’s shares from a “hold” rating to a “buy” rating. For the record, there’s not much analyst coverage of Palisade Bio’s shares. One other firm, Ladenburg Thalm, has a “buy” rating for the stock.

Maxim Group doesn’t include a price target for PALI stock in its latest coverage. When checking the other coverage of Palisade Bio, there’s a $5 price target for the shares from Ladenburg Thalm that was issued in February.

How Investors Are Reacting to the PALI Stock Upgrade

Investors appear hopeful on Friday following the upgrade news. This has the company’s shares seeing incredibly heavy trading today. As of this writing, more than 2 million shares of the stock have changed hands. To put that in perspective, the company’s daily average trading volume is closer to 1.2 million shares.

Palisade Bio is a biopharmaceutical company focused on the development of medications for specific diseases. Its major goal is the creation and commercialization of treatments for diseases affecting loss of gastrointestinal barrier integrity.

PALI stock is up 35.9% in pre-market trading on Friday.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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