Palisade Bio initiated with a Buy at Clear Street

Clear Street analyst Kaveri Pohlman initiated coverage of Palisade Bio (PALI) with a Buy rating and $12 price target The firm says the company’s lead asset PALI-2108, a first-in-class oral PDE4-inhibitor prodrug for inflammatory bowel disease, has shown “compelling biology,” including 100% clinical response and 40% clinical remission in ulcerative colitis. The shares offer an attractive risk/reward into multiple pipeline catalysts over the next 12-18 months, the analyst tells investors in a research note.