Palisade Bio price target lowered to $8 from $22.50 at Maxim

Maxim lowered the firm’s price target on Palisade Bio (PALI) to $8 from $22.50 and keeps a Buy rating on the shares. The company reported Q3 results with a net loss of ($3.5M) and ended the period with $8M in cash on the balance sheet, which should provide runway into Q2 of 2025, the analyst tells investors in a research note. Maxim anticipates another financing in the near-term, though it remains positive on the stock given the company returning to the clinic, the promising preclinical data, and the market opportunity in ulcerative colitis, the firm added.