StockNews.com Initiates Coverage on Palatin Technologies (NYSE:PTN)

StockNews.com assumed coverage on shares of Palatin Technologies (NYSE:PTNGet Rating) in a note issued to investors on Monday. The brokerage set a “sell” rating on the stock.

Shares of PTN stock opened at $0.45 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.63 and a current ratio of 3.71. Palatin Technologies has a fifty-two week low of $0.33 and a fifty-two week high of $0.96. The business has a 50-day moving average price of $0.41. The firm has a market cap of $104.26 million, a price-to-earnings ratio of -3.00 and a beta of 0.91.

About Palatin Technologies (Get Rating)

Palatin Technologies, Inc is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, a peptide melanocortin receptor 4 agonist for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD).

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