Palatin Technologies (NYSEAMERICAN:PTN) Receives “Buy” Rating from HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 12.5 %

NYSEAMERICAN PTN opened at $0.97 on Thursday. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65. The firm has a market cap of $18.92 million, a price-to-earnings ratio of -0.49 and a beta of 0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. Analysts predict that Palatin Technologies will post -1.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Palatin Technologies

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its position in Palatin Technologies by 98.6% in the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 14,432 shares during the period. Virtu Financial LLC purchased a new stake in shares of Palatin Technologies in the third quarter valued at approximately $51,000. Finally, Armistice Capital LLC bought a new position in Palatin Technologies in the second quarter worth approximately $3,272,000. Hedge funds and other institutional investors own 11.50% of the company’s stock.

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.