Palatin Technologies (NYSEAMERICAN:PTN) Lowered to “Sell” at StockNews.com

StockNews.com cut shares of Palatin Technologies (NYSEAMERICAN:PTN) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Separately, HC Wainwright reiterated a buy rating and issued a $70.00 target price on shares of Palatin Technologies in a research note on Monday, August 7th.

Palatin Technologies Stock Performance

Shares of NYSEAMERICAN:PTN opened at $1.86 on Monday. The firm has a market capitalization of $20.74 million, a P/E ratio of -0.63 and a beta of 0.95. The company has a 50-day simple moving average of $2.48. Palatin Technologies has a 52-week low of $1.80 and a 52-week high of $8.60. The company has a current ratio of 2.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Palatin Technologies

Large investors have recently modified their holdings of the business. CIBC Asset Management Inc bought a new position in Palatin Technologies during the first quarter worth $41,000. Montis Financial LLC acquired a new stake in Palatin Technologies in the first quarter worth $58,000. Dimensional Fund Advisors LP acquired a new stake in Palatin Technologies in the third quarter worth $135,000. Jane Street Group LLC acquired a new position in shares of Palatin Technologies during the first quarter valued at about $103,000. Finally, Millennium Management LLC acquired a new position in shares of Palatin Technologies during the fourth quarter valued at about $118,000. Institutional investors own 7.86% 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.