Palatin Technologies (NYSEAMERICAN:PTN) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.26, Fidelity Earnings reports. The company had revenue of $60.27 million for the quarter.
NYSEAMERICAN PTN opened at $1.06 on Friday. Palatin Technologies has a 1 year low of $0.59 and a 1 year high of $1.78.
In other Palatin Technologies news, major shareholder Stephen T. Wills bought 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $25.31 per share, with a total value of $37,965.00. Also, insider Carl Spana bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $43,000.00. Following the completion of the purchase, the insider now directly owns 5,953,852 shares of the company’s stock, valued at $5,120,312.72. The disclosure for this purchase can be found here. Insiders purchased 74,880 shares of company stock worth $101,008 over the last three months.
A number of research analysts have recently issued reports on PTN shares. 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 cut Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, HC Wainwright set a $8.00 price objective on Palatin Technologies and gave the company a “buy” rating in a research note on Monday, June 24th.
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.
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