Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above 200 Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.00 and traded as high as $2.08. Palatin Technologies shares last traded at $2.07, with a volume of 186,688 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Palatin Technologies in a research note on Thursday.

Palatin Technologies Stock Performance

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). Palatin Technologies had a negative return on equity of 583.06% and a negative net margin of 445.12%. During the same quarter last year, the business posted ($0.63) EPS. As a group, sell-side analysts forecast that Palatin Technologies, Inc. will post -2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC bought a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies at the end of the most recent quarter. 11.50% of the stock is owned by institutional investors.

About Palatin Technologies

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.