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

HC Wainwright reaffirmed their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTNFree Report) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 0.5 %

NYSEAMERICAN:PTN opened at $1.89 on Thursday. The company has a market cap of $30.50 million, a PE ratio of -0.76 and a beta of 0.93. Palatin Technologies has a fifty-two week low of $1.43 and a fifty-two week high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). Palatin Technologies had a negative return on equity of 583.06% and a negative net margin of 445.12%. During the same period in the previous year, the business posted ($0.63) earnings per share. Sell-side analysts anticipate that Palatin Technologies will post -2.41 earnings per share for the current 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 stake in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTNFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies as of its most recent SEC filing. Institutional investors and hedge funds own 11.50% of the company’s stock.

About Palatin Technologies

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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.

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