Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above 200-Day Moving Average – Here’s What Happened

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 $1.04. Palatin Technologies shares last traded at $0.98, with a volume of 163,592 shares traded.

Wall Street Analyst Weigh In

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 Down 2.0 %

The firm has a market cap of $19.16 million, a P/E ratio of -0.47 and a beta of 0.99.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, analysts expect that Palatin Technologies, Inc. will post -2.03 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Palatin Technologies stock. XTX Topco Ltd acquired a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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 SEC filing. 11.50% of the stock is currently owned by institutional investors and hedge funds.

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.