Palatin Technologies (NYSEAMERICAN:PTN) Issues Earnings Results

Palatin Technologies (NYSEAMERICAN:PTN) released its quarterly earnings data on Monday. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, reports. The firm had revenue of $0.35 million during the quarter.

Palatin Technologies Stock Down 6.1 %

Shares of NYSEAMERICAN:PTN traded down $0.05 during trading on Wednesday, reaching $0.83. 210,063 shares of the company traded hands, compared to its average volume of 370,538. Palatin Technologies has a 1-year low of $0.68 and a 1-year high of $5.65. The firm has a market capitalization of $16.01 million, a P/E ratio of -0.34 and a beta of 1.01.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of Palatin Technologies in a research report on Tuesday.

Institutional Inflows and Outflows

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 second quarter, according to its most recent 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 about 8.66% of Palatin Technologies at the end of the most recent quarter. 11.50% of the stock is owned by institutional investors.

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.