Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research note published on Friday,Benzinga reports. They currently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 6.1 %

NYSEAMERICAN:PTN opened at $1.05 on Friday. The company has a market capitalization of $20.53 million, a price-to-earnings ratio of -0.53 and a beta of 0.87. Palatin Technologies has a 12 month low of $0.68 and a 12 month high of $4.65.

Hedge Funds Weigh In On Palatin Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. 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 valued at $26,000 after buying an additional 14,432 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Palatin Technologies during the 3rd quarter valued at $51,000. Finally, HB Wealth Management LLC increased its stake in shares of Palatin Technologies by 86.3% in the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares in the last quarter. 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.