Palatin Technologies (NYSEAMERICAN:PTN) Share Price Passes Above 200-Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as high as $1.92. Palatin Technologies shares last traded at $1.90, with a volume of 60,298 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a report on Thursday, June 20th.

Palatin Technologies Trading Up 4.4 %

The firm has a market cap of $30.67 million, a price-to-earnings ratio of -0.77 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share 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 prior year, the business posted ($0.63) EPS. As a group, equities analysts anticipate that Palatin Technologies, Inc. will post -2.41 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC acquired a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies at the end of the most recent reporting period. 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.