Palatin Technologies (NYSEAMERICAN:PTN) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 16.7 %

PTN opened at $1.12 on Monday. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65. The company has a market cap of $21.90 million, a price-to-earnings ratio of -0.56 and a beta of 0.93.

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

Institutional Trading of Palatin Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Palatin Technologies in the 2nd quarter worth $29,000. Armistice Capital LLC purchased a new stake in Palatin Technologies in the 2nd quarter valued at approximately $3,272,000. Finally, Virtu Financial LLC acquired a new position in Palatin Technologies during the 3rd quarter worth approximately $51,000. 11.50% of the stock is owned by institutional investors and hedge funds.

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.