Palatin Technologies’ (PTN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 14.7 %

Shares of NYSEAMERICAN PTN opened at $0.86 on Thursday. The firm has a market cap of $16.81 million, a P/E ratio of -0.43 and a beta of 0.90. Palatin Technologies has a 1 year low of $0.68 and a 1 year high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, research analysts anticipate that Palatin Technologies will post -1.66 EPS for the current year.

Institutional Investors Weigh In On Palatin Technologies

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Palatin Technologies in the second quarter valued at approximately $29,000. Armistice Capital LLC purchased a new position in shares of Palatin Technologies during the 2nd quarter worth $3,272,000. Finally, Virtu Financial LLC acquired a new position in shares of Palatin Technologies during the 3rd quarter valued at about $51,000. 11.50% of the stock is currently owned by institutional investors and hedge funds.

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.