Palatin Technologies (NYSEAMERICAN:PTN) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed 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 $1.18. Palatin Technologies shares last traded at $1.16, with a volume of 148,192 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Palatin Technologies in a report on Thursday, October 31st.

Palatin Technologies Trading Up 6.4 %

The company has a market capitalization of $22.68 million, a price-to-earnings ratio of -0.56 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, analysts predict that Palatin Technologies, Inc. will post -2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC purchased a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned approximately 8.66% of Palatin Technologies at the end of the most recent reporting period. 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.