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

HC Wainwright reaffirmed their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report released on Wednesday, Benzinga reports. The firm currently has a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

NYSEAMERICAN PTN opened at $1.63 on Wednesday. The stock has a market cap of $31.57 million, a price-to-earnings ratio of -0.66 and a beta of 1.01. Palatin Technologies has a fifty-two week low of $1.29 and a fifty-two week high of $5.65.

Institutional Trading of Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. XTX Topco Ltd acquired a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned 0.08% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. 11.50% of the stock is currently owned by institutional investors.

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.