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

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

Palatin Technologies Stock Down 3.7 %

NYSEAMERICAN PTN opened at $1.57 on Wednesday. Palatin Technologies has a 52 week low of $1.29 and a 52 week high of $5.65. The firm has a market cap of $30.41 million, a price-to-earnings ratio of -0.63 and a beta of 1.01.

Institutional Investors Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC purchased a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned about 4.29% of Palatin Technologies at the end of the most recent quarter. Institutional investors and hedge funds 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.