Palatin Technologies (NYSEAMERICAN:PTN) Earns “Buy” Rating from HC Wainwright

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

Palatin Technologies Stock Performance

NYSEAMERICAN:PTN opened at $1.05 on Friday. The firm has a market cap of $20.53 million, a P/E ratio of -0.53 and a beta of 0.87. Palatin Technologies has a fifty-two week low of $0.68 and a fifty-two week high of $4.65.

Hedge Funds Weigh In On Palatin Technologies

A number of large investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its position in shares of Palatin Technologies by 98.6% during the third quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 14,432 shares during the last quarter. Virtu Financial LLC purchased a new position in Palatin Technologies in the 3rd quarter worth about $51,000. Finally, HB Wealth Management LLC lifted its holdings in Palatin Technologies by 86.3% during the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 51,200 shares in the last quarter. 11.50% of the stock is owned by hedge funds and other institutional investors.

About Palatin Technologies

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.