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

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating restated by HC Wainwright in a report issued on Thursday, Benzinga reports. They currently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

PTN opened at $1.87 on Thursday. The company has a market cap of $30.10 million, a price-to-earnings ratio of -0.75 and a beta of 0.93. Palatin Technologies has a one year low of $1.43 and a one year high of $5.65.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC bought a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned approximately 4.29% of Palatin Technologies as of its most recent filing with the SEC. Hedge funds and other 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.