Palisade Bio, Inc. (NASDAQ:PALI) shares are trading higher Tuesday after the company entered into a collaboration with Strand Life Sciences.

The Details:

Palisade Bio said its collaboration with Strand Life Sciences is aimed at advancing precision medicine for ulcerative colitis (UC) therapy and provides the company access to advanced bioinformatics tools vital for understanding complex disease pathways and predicting responses to PDE4 inhibitors.

"Our partnership with Strand Life Sciences signifies a pivotal advancement in our mission to revolutionize UC treatment," said Dr. Mitch Jones, CMO at Palisade Bio.

"By harnessing the power of bioinformatics and leveraging extensive patient datasets, we are highly optimistic in our ability to deliver personalized therapies that offer new hope to patients living with UC. More immediately, the findings from this collaboration will provide valuable guidance and insight for our lead program, PALI-2108."

Related News: What's Going On With Luxury EV-Maker Lucid's Stock?

PALI Stock Prediction 2024:

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Palisade Bio have an average 1-year price target of $22.50, representing an expected upside of 226.09%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Palisade Bio, while 1 analysts has a bullish rating.

PALI Price Action: According to Benzinga Pro, Palisade Bio shares are up 27.9% at $6.30 at the time of publication Tuesday.

Image: Shutterstock