Palatin Technologies (NYSEAMERICAN:PTN) Earns Buy Rating from HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Tuesday, Benzinga reports. They presently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 6.2 %

Shares of PTN traded up $0.06 during mid-day trading on Tuesday, hitting $0.95. 210,701 shares of the company traded hands, compared to its average volume of 368,232. 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 $18.40 million, a P/E ratio of -0.38 and a beta of 1.01.

Institutional Trading of Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC bought a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned approximately 8.66% of Palatin Technologies at the end of the most recent reporting period. 11.50% of the stock is currently owned by 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.