Palisade Bio initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Palisade Bio (PALI) with an Overweight rating and $25 price target Piper says Palisade “is a great name to own” ahead of PALI-2108’s Phase1b fibrostenotic Crohn’s disease data in Q1. The shares are undervalued considering that PDE4 inhibition is already validated in inflammatory bowel disease, the analyst tells investors in a research note. The firm adds that PALI-2108 has shown “profound benefits” across clinical remission and response in a small Phase 1b ulcerative colitis trial.