Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report report published on Monday,Benzinga reports. They currently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 5.6 %

Shares of NYSEAMERICAN:PTN opened at $1.13 on Monday. The company has a market capitalization of $22.09 million, a price-to-earnings ratio of -0.56 and a beta of 0.93. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. Sell-side analysts predict that Palatin Technologies will post -1.66 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Palatin Technologies during the second quarter worth about $29,000. Virtu Financial LLC acquired a new stake in Palatin Technologies in the 3rd quarter valued at about $51,000. Finally, Armistice Capital LLC bought a new position in shares of Palatin Technologies during the 2nd quarter valued at about $3,272,000. Institutional investors and hedge funds own 11.50% of the company’s stock.

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.