In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Palisade Bio, with a price target of $2.00.
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Naz Rahman has given his Buy rating due to a combination of factors including promising clinical trial results and strategic development plans. Palisade Bio recently reported positive data from their Phase 1b trial of PALI-2108, showing significant clinical activity and improvement in key biomarkers for ulcerative colitis patients. The treatment was well-tolerated with no serious adverse events, which strengthens its potential as a viable therapeutic option.
Additionally, the findings suggest that PALI-2108 could be effective in treating fibrostenotic Crohn’s disease, a condition with a large patient population but no FDA-approved treatments. Palisade Bio’s plans to further evaluate PALI-2108 for this indication and engage with the FDA for future studies highlight a strategic approach to capturing a significant market opportunity. These factors collectively underpin Rahman’s optimistic outlook on Palisade Bio’s stock.