HC Wainwright Reaffirms Buy Rating for Palatin Technologies (NYSEAMERICAN:PTN)

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

Palatin Technologies Price Performance

PTN stock opened at $1.09 on Thursday. Palatin Technologies has a fifty-two week low of $0.68 and a fifty-two week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, research analysts forecast that Palatin Technologies will post -2.03 earnings per share for the current fiscal year.

Hedge Funds 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 second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 currently 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.