HC Wainwright Reiterates Buy Rating for Palatin Technologies (NYSEAMERICAN:PTN)

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

Shares of PTN stock opened at $1.03 on Monday. The stock has a market capitalization of $20.14 million, a PE ratio of -0.53 and a beta of 0.93. Palatin Technologies has a one year low of $0.68 and a one year high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. On average, equities research analysts anticipate that Palatin Technologies will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Palatin Technologies

A number of large investors have recently added to or reduced their stakes in PTN. XTX Topco Ltd increased its holdings in Palatin Technologies by 98.6% during the third quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 14,432 shares during the last quarter. Virtu Financial LLC purchased a new stake in Palatin Technologies during the third quarter worth about $51,000. Finally, Armistice Capital LLC purchased a new stake in Palatin Technologies during the second quarter worth about $3,272,000. Hedge funds and other institutional investors own 11.50% of the company’s stock.

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.