Palatin Technologies (NYSEAMERICAN:PTN) Releases Quarterly Earnings Results

Palatin Technologies (NYSEAMERICAN:PTN) posted its quarterly earnings results on Monday. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, reports. The company had revenue of $0.35 million during the quarter.

Palatin Technologies Trading Down 6.1 %

Shares of NYSEAMERICAN PTN opened at $0.83 on Thursday. The company has a market cap of $16.01 million, a P/E ratio of -0.33 and a beta of 1.01. Palatin Technologies has a 1 year low of $0.68 and a 1 year high of $5.65.

Hedge Funds Weigh In On 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) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 11.50% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a research report on Tuesday.

About Palatin Technologies

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.