HC Wainwright Cuts Palatin Technologies (NYSEAMERICAN:PTN) Price Target to $7.00

Palatin Technologies (NYSEAMERICAN:PTN) had its price target lowered by stock analysts at HC Wainwright from $17.00 to $7.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

Shares of Palatin Technologies stock traded up $0.10 during midday trading on Thursday, hitting $1.09. 1,102,378 shares of the company were exchanged, compared to its average volume of 1,199,234. The company has a market capitalization of $21.21 million, a PE ratio of -0.55 and a beta of 0.87. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $4.18.

Institutional Investors Weigh In On Palatin Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd boosted its stake 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 acquiring an additional 14,432 shares during the last quarter. Virtu Financial LLC acquired a new stake in Palatin Technologies in the third quarter worth $51,000. Finally, HB Wealth Management LLC boosted its position 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 worth $127,000 after purchasing an additional 51,200 shares in 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.