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

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price 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 $1.49. Palatin Technologies shares last traded at $1.48, with a volume of 63,108 shares changing hands.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a research report on Wednesday, August 28th.

Palatin Technologies Price Performance

The firm has a market capitalization of $28.67 million, a P/E ratio of -0.60 and a beta of 1.01.

Institutional Trading of Palatin Technologies

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