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

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 0.8 %

PTN stock traded up $0.01 during midday trading on Thursday, reaching $1.27. The company had a trading volume of 154,073 shares, compared to its average volume of 354,457. Palatin Technologies has a 1 year low of $0.68 and a 1 year high of $5.65. The company has a market cap of $24.83 million, a price-to-earnings ratio of -0.59 and a beta of 0.99.

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, research analysts anticipate that Palatin Technologies will post -2.03 EPS for the current year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC bought a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTNFree Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned about 8.66% of Palatin Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

(Get Free Report)

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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