Palatin Technologies (NYSEAMERICAN:PTN) PT Set at $8.00 by HC Wainwright

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Palatin Technologies (NYSEAMERICAN:PTN) has been given a $8.00 target price by analysts at HC Wainwright in a research report issued to clients and investors on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on PTN. LADENBURG THALM/SH SH set a $3.00 price objective on Palatin Technologies and gave the company a “buy” rating in a research note on Thursday, May 23rd. Zacks Investment Research downgraded Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th.

Shares of PTN stock traded up $0.06 on Friday, reaching $1.06. The company had a trading volume of 2,573,095 shares, compared to its average volume of 2,077,939. Palatin Technologies has a one year low of $0.59 and a one year high of $1.78.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Thursday, September 12th. The biopharmaceutical company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26. The company had revenue of $60.27 million during the quarter.

In other Palatin Technologies news, insider Carl Spana purchased 50,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $0.86 per share, for a total transaction of $43,000.00. Following the acquisition, the insider now owns 5,953,852 shares of the company’s stock, valued at $5,120,312.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Stephen T. Wills purchased 1,500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were acquired at an average price of $25.31 per share, for a total transaction of $37,965.00. Insiders bought 74,880 shares of company stock valued at $101,008 in the last ninety days.

A number of large investors have recently modified their holdings of PTN. BNP Paribas Arbitrage SA purchased a new position in Palatin Technologies during the 1st quarter valued at about $42,000. SG Americas Securities LLC purchased a new stake in Palatin Technologies in the first quarter worth $115,000. Acadian Asset Management LLC boosted its holdings in Palatin Technologies by 10.1% in the first quarter. Acadian Asset Management LLC now owns 2,639,999 shares of the biopharmaceutical company’s stock worth $2,587,000 after acquiring an additional 243,184 shares in the last quarter. Community Trust & Investment Co. bought a new stake in Palatin Technologies in the second quarter worth $26,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Palatin Technologies by 207.7% in the second quarter. Commonwealth Equity Services LLC now owns 52,239 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 35,264 shares in the last quarter.

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 principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.

See Also: When can a hold rating present a buying opportunity?

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