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

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $1.34. Palatin Technologies shares last traded at $1.28, with a volume of 470,292 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Palatin Technologies in a research note on Wednesday, August 28th.

Palatin Technologies Stock Performance

The firm has a market capitalization of $24.79 million, a P/E ratio of -0.52 and a beta of 1.01.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC bought a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned approximately 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.

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.