Palatin Technologies (NYSEAMERICAN:PTN) Posts Earnings Results

Palatin Technologies (NYSEAMERICAN:PTN) issued its earnings results on Tuesday. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, reports.

Palatin Technologies Price Performance

Shares of Palatin Technologies stock traded up $0.06 during trading hours on Friday, reaching $0.89. 143,351 shares of the company’s stock were exchanged, compared to its average volume of 368,310. The company has a market cap of $17.19 million, a price-to-earnings ratio of -0.33 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.

Hedge Funds Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. XTX Topco Ltd bought a new position 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 firm bought 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned about 0.08% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 11.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.