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

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

Shares of PTN stock traded up $0.06 during mid-day trading on Tuesday, hitting $0.95. The stock had a trading volume of 210,701 shares, compared to its average volume of 368,232. Palatin Technologies has a fifty-two week low of $0.68 and a fifty-two week high of $5.65. The stock has a market capitalization of $18.40 million, a PE ratio of -0.38 and a beta of 1.01.

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 shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned approximately 8.66% of Palatin Technologies at the end of the most recent quarter. 11.50% of the stock is currently owned by institutional investors and hedge funds.

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.