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

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

Palatin Technologies Stock Down 0.9 %

PTN stock opened at $1.09 on Thursday. The company has a market capitalization of $21.31 million, a price-to-earnings ratio of -0.52 and a beta of 0.99. Palatin Technologies has a 12 month low of $0.68 and a 12 month high of $5.65.

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

Hedge Funds Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC acquired a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 as of its most recent filing with the SEC. 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.