Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.18. Palatin Technologies shares last traded at $1.16, with a volume of 148,192 shares changing hands.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $17.00 price objective on shares of Palatin Technologies in a report on Thursday, October 31st.

Palatin Technologies Stock Performance

Palatin Technologies (NYSEAMERICAN:PTN) last announced its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. Analysts forecast that Palatin Technologies, Inc. will post -2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Palatin Technologies stock. XTX Topco Ltd purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned about 0.08% of Palatin Technologies as of its most recent SEC filing. 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.