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

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report)‘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:PTNGet Free Report) 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:PTNFree Report) 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

(Get Free Report)

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.

Further Reading

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