HC Wainwright Reiterates “Buy” Rating for Palatin Technologies (NYSEAMERICAN:PTN)

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 0.8 %

NYSEAMERICAN PTN traded up $0.01 on Thursday, reaching $1.27. The company had a trading volume of 154,073 shares, compared to its average volume of 354,457. The firm has a market capitalization of $24.83 million, a P/E ratio of -0.59 and a beta of 0.99. Palatin Technologies has a 52-week low of $0.68 and a 52-week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, sell-side analysts predict that Palatin Technologies will post -2.03 EPS for the current fiscal year.

Institutional Trading of Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC bought a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned about 8.66% of Palatin Technologies as of its most recent SEC filing. 11.50% of the stock is owned by institutional investors and hedge funds.

Palatin Technologies Company Profile

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.