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

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

Palatin Technologies Price Performance

Shares of PTN stock opened at $0.97 on Thursday. Palatin Technologies has a 12 month low of $0.68 and a 12 month high of $5.65. The company has a market cap of $18.92 million, a price-to-earnings ratio of -0.49 and a beta of 0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, research analysts predict that Palatin Technologies will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Palatin Technologies

A number of hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new stake in Palatin Technologies during the second quarter valued at $29,000. Armistice Capital LLC bought a new stake in shares of Palatin Technologies in the 2nd quarter worth about $3,272,000. Finally, Virtu Financial LLC purchased a new stake in shares of Palatin Technologies during the 3rd quarter valued at about $51,000. 11.50% of the stock is currently owned by hedge funds and other 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.