Palatin Technologies (NYSEAMERICAN:PTN) Stock Rating Reaffirmed by HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Down 0.8 %

Shares of PTN stock opened at $1.87 on Thursday. Palatin Technologies has a twelve month low of $1.43 and a twelve month high of $5.65. The firm has a market cap of $30.10 million, a P/E ratio of -0.75 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report) last posted its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.03). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. During the same period in the prior year, the company earned ($0.63) earnings per share. On average, research analysts expect that Palatin Technologies will post -2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC bought a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTNFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies at the end of the most recent reporting period. 11.50% of the stock is currently owned by hedge funds and other institutional investors.

About Palatin Technologies

(Get Free Report)

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.

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