Palatin Technologies (NYSEAMERICAN:PTN) Releases Earnings Results

Palatin Technologies (NYSEAMERICAN:PTN) announced its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, reports.

Palatin Technologies Stock Performance

Shares of PTN traded up $0.06 during trading hours on Friday, reaching $0.89. The stock had a trading volume of 143,351 shares, compared to its average volume of 368,310. The stock has a market capitalization of $17.19 million, a price-to-earnings ratio of -0.33 and a beta of 1.01. Palatin Technologies has a 12 month low of $0.68 and a 12 month high of $5.65.

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 report on Tuesday.

Institutional Inflows and Outflows

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