Palisade Bio, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Naz Rahman from Maxim Group reiterated a Buy rating on the stock and has a $2.00 price target.
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Naz Rahman has given his Buy rating due to a combination of factors including promising clinical trial results and strategic market positioning. Palisade Bio recently announced highly positive data from their Phase 1b trial of PALI-2108, demonstrating a 100% clinical response rate in ulcerative colitis patients, with significant histological improvements and good tolerability. This data supports the potential of PALI-2108 as a targeted treatment for the colon, showing biological effects that warrant further development.
Moreover, Palisade Bio’s focus on fibrostenotic Crohn’s disease (CD) represents a strategic move into a market with limited competition and no current FDA-approved therapies. The company’s plan to initiate further trials and engage with the FDA highlights a clear path for development. This strategic focus, combined with the positive trial outcomes, underpins Rahman’s confidence in the company’s future prospects, leading to the Buy rating.
According to TipRanks, Rahman is an analyst with an average return of -17.5% and a 29.03% success rate. Rahman covers the Healthcare sector, focusing on stocks such as Kazia Therapeutics, Palisade Bio, and Aytu BioScience.