Palatin Technologies (OTCMKTS:PTNT) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of Palatin Technologies, Inc. (OTCMKTS:PTNT) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.82 and traded as high as $24.23. Palatin Technologies shares last traded at $24.23, with a volume of 223 shares.

Palatin Technologies Stock Performance

The stock has a fifty day moving average price of $26.13 and a two-hundred day moving average price of $14.95. The firm has a market capitalization of $958,800.00, a P/E ratio of -15.46 and a beta of 1.43.

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. It is also developing oral PL8177, a selective MC1r agonist peptide that is in Phase 2 clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease, which is in Phase 3 clinical trial; and melanocortin peptides for diabetic retinopathy.