In a report released yesterday, Naz Rahman from Maxim Group reiterated a Buy rating on Palisade Bio (PALI – Research Report), with a price target of $2.00.
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Naz Rahman has given his Buy rating due to a combination of factors surrounding Palisade Bio’s development of PALI-2108, a promising treatment for ulcerative colitis (UC). The company has reported positive preliminary safety data from its Phase 1 trials, with PALI-2108 being well-tolerated across various dose levels. This is a significant indicator of its potential for continued development, especially considering the chronic nature of UC, where a clean safety profile is crucial for long-term treatment.
Additionally, the pharmacokinetic analysis of PALI-2108 has shown favorable results, including delayed and extended release, which suggests that the drug is functioning as intended in human trials. With sufficient funding secured to advance beyond the Phase 1a/b readout expected in the second quarter of 2025, and the absence of any approved PDE4 inhibitors for UC treatment, Palisade Bio is positioned well for future growth. These factors contribute to Rahman’s optimistic outlook and reiteration of a Buy rating.
PALI’s price has also changed dramatically for the past six months – from $2.520 to $0.680, which is a -73.02% drop .