H.C. Wainwright Reiterates Buy Rating on Palisade Bio Inc. (PALI)

H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Buy rating and $7.00 price target on Palisade Bio Inc. (NASDAQ: PALI).

The analyst commented: "PALI-2108’s 40% endoscopic response gets tissue-level support, risk-mitigating Phase 2 data in broader Crohn’s disease. Palisade Bio presented five posters at the American College of Gastroenterology (ACG) meeting being held October 9-14 in Nashville, TN, including new evidence of reduced inflammatory-cell densities in paired intestinal biopsies from its five-patient Phase 1b fibrostenotic Crohn’s disease (FSCD) cohort. These findings complement previously reported increases in ileal cAMP, a 47.5% reduction in mean Simple Endoscopic Score for Crohn’s Disease (SES-CD) from 8.0 to 4.2, a 58.8% reduction in fecal calprotectin, and endoscopic response and remission in 2/5 patients after just 14 days. We think the agreement across target engagement, intestinal biopsies, inflammatory biomarkers, and endoscopy supports an early anti-inflammatory effect that could extend to the broader luminal Crohn’s disease (CD) population. Management estimated that expanding into luminal CD more than doubles the addressable population, with an established regulatory pathway based on endoscopic improvement that does not depend on showing stricture reversal. We expect positive endoscopic data from the ~60-patient ASCENTRA-CD Phase 2 study in 1Q28, with the ~204-patient, placebo-controlled ASCENTRA-UC readout in 2H27 providing an earlier assessment of sustained efficacy. We make no changes to our estimates, valuation, or probabilities of launch post-ACG update. Thus, we reiterate our Buy rating and 12-month price target of $7."

For an analyst ratings summary and ratings history on Palisade Bio Inc. click here. For more ratings news on Palisade Bio Inc. click here.

Shares of Palisade Bio Inc. closed at $1.59 yesterday.

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