Palatin Technologies’ (PTN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a report released on Thursday morning, Benzinga reports. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Trading Down 0.9 %

Palatin Technologies stock opened at $1.09 on Thursday. The stock has a market cap of $21.31 million, a P/E ratio of -0.52 and a beta of 0.99. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. Research analysts anticipate that Palatin Technologies will post -2.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 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 hedge funds and other institutional investors.

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.