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

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

Palatin Technologies Stock Down 1.0 %

Shares of PTN stock opened at $0.90 on Tuesday. Palatin Technologies has a twelve month low of $0.68 and a twelve month high of $5.22. The firm has a market cap of $17.60 million, a P/E ratio of -0.45 and a beta of 0.90.

Institutional Trading of Palatin Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of PTN. XTX Topco Ltd boosted its position in Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 14,432 shares during the period. Virtu Financial LLC bought a new position in shares of Palatin Technologies during the third quarter valued at $51,000. Finally, HB Wealth Management LLC raised its stake in shares of Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after acquiring an additional 51,200 shares during the last quarter. Institutional investors 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.