Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $1.04. Palatin Technologies shares last traded at $0.98, with a volume of 163,592 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Palatin Technologies in a research note on Tuesday, October 1st.

Palatin Technologies Stock Performance

The firm has a market cap of $19.16 million, a PE ratio of -0.47 and a beta of 0.99.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Palatin Technologies, Inc. will post -2.03 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Palatin Technologies stock. XTX Topco Ltd acquired a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.08% of Palatin Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 11.50% of the company’s stock.

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.