Palatin Technologies (NYSEAMERICAN:PTN) Releases Quarterly Earnings Results

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

Palatin Technologies Stock Performance

PTN stock traded down $0.04 on Wednesday, hitting $0.84. 129,587 shares of the company were exchanged, compared to its average volume of 370,105. Palatin Technologies has a twelve month low of $0.68 and a twelve month high of $5.65. The firm has a market capitalization of $16.24 million, a price-to-earnings ratio of -0.35 and a beta of 1.01.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. XTX Topco Ltd acquired a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.08% of Palatin Technologies as of its most recent SEC filing. 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.