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

HC Wainwright reiterated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a report issued on Thursday morning,Benzinga reports. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

Shares of Palatin Technologies stock opened at $0.97 on Thursday. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65. The company has a market capitalization of $18.92 million, a PE ratio of -0.49 and a beta of 0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. On average, equities research analysts predict that Palatin Technologies will post -1.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palatin Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new position in shares of Palatin Technologies in the 2nd quarter worth about $29,000. Armistice Capital LLC bought a new stake in Palatin Technologies in the second quarter worth about $3,272,000. Finally, Virtu Financial LLC purchased a new position in Palatin Technologies in the third quarter valued at about $51,000. Hedge funds and other institutional investors 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.