Palatin Technologies (NYSEAMERICAN:PTN) Releases Quarterly Earnings Results

Palatin Technologies (NYSEAMERICAN:PTN) released its earnings results on Monday. The biopharmaceutical company reported ($0.49) EPS for the quarter, reports. The firm had revenue of $0.35 million for the quarter.

Palatin Technologies Stock Down 1.6 %

Shares of Palatin Technologies stock opened at $0.88 on Wednesday. The company has a market capitalization of $17.05 million, a P/E ratio of -0.35 and a beta of 1.01. Palatin Technologies has a fifty-two week low of $0.68 and a fifty-two week high of $5.65.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a report on Tuesday.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. XTX Topco Ltd bought a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.08% of Palatin Technologies at the end of the most recent quarter. 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.