Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report released on Monday morning,Benzinga reports. HC Wainwright currently has a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 5.6 %

Shares of Palatin Technologies stock opened at $1.13 on Monday. Palatin Technologies has a 12-month low of $0.68 and a 12-month high of $5.65. The firm has a market cap of $22.09 million, a PE ratio of -0.56 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. Equities research analysts predict that Palatin Technologies will post -1.66 EPS for the current fiscal year.

Institutional Trading of Palatin Technologies

A number of hedge funds have recently modified their holdings of the business. Armistice Capital LLC purchased a new stake in shares of Palatin Technologies in the second quarter worth approximately $3,272,000. Virtu Financial LLC acquired a new position in Palatin Technologies in the 3rd quarter valued at approximately $51,000. Finally, XTX Topco Ltd acquired a new position in Palatin Technologies in the 2nd quarter valued at approximately $29,000. Hedge funds and other institutional investors own 11.50% of the company’s stock.

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.