Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s share price crossed 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 $0.90. Palatin Technologies shares last traded at $0.87, with a volume of 106,994 shares traded.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $17.00 price objective on shares of Palatin Technologies in a report on Tuesday, October 1st.

Palatin Technologies Stock Performance

The company has a market capitalization of $16.78 million, a price-to-earnings ratio of -0.35 and a beta of 1.01.

Palatin Technologies (NYSEAMERICAN:PTN) last released its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter.

Institutional Trading of Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC acquired a new stake in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned 8.66% of Palatin Technologies at the end of the most recent reporting period. Institutional investors 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.