Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above 200 Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.95. Palatin Technologies shares last traded at $1.88, with a volume of 180,638 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright decreased their target price on shares of Palatin Technologies from $70.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th.

Palatin Technologies Trading Down 2.6 %

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.36). Palatin Technologies had a negative return on equity of 583.06% and a negative net margin of 445.12%. The business had revenue of $2.03 million for the quarter, compared to analyst estimates of $2.28 million. During the same period in the prior year, the company posted ($0.13) EPS. On average, equities research analysts expect that Palatin Technologies, Inc. will post -2.36 EPS for the current fiscal year.

Institutional Trading of Palatin Technologies

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Palatin Technologies in the first quarter valued at about $41,000. UBS Group AG raised its stake in shares of Palatin Technologies by 115,168.0% during the 3rd quarter. UBS Group AG now owns 28,817 shares of the biopharmaceutical company’s stock worth $44,000 after buying an additional 28,792 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Palatin Technologies by 388.0% in the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock valued at $64,000 after buying an additional 180,400 shares during the period. Northern Trust Corp boosted its stake in shares of Palatin Technologies by 52.8% in the fourth quarter. Northern Trust Corp now owns 25,097 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 8,671 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Palatin Technologies during the 1st quarter worth $103,000. 11.50% of the stock is owned by hedge funds and other institutional investors.

About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.