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

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

Palatin Technologies Trading Up 14.6 %

Shares of PTN stock opened at $2.35 on Wednesday. Palatin Technologies has a twelve month low of $1.43 and a twelve month high of $5.65. The company has a market capitalization of $37.93 million, a P/E ratio of -0.91 and a beta of 0.86.

Palatin Technologies (NYSEAMERICAN:PTN) last released its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.36). The business had revenue of $2.03 million during the quarter, compared to analyst estimates of $2.28 million. Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. During the same period last year, the business earned ($0.13) EPS. On average, research analysts forecast that Palatin Technologies will post -2.36 EPS for the current year.

Institutional Trading of Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC acquired a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned approximately 4.29% of Palatin Technologies at the end of the most recent quarter. 11.50% of the stock is owned by institutional investors and hedge funds.

Palatin Technologies Company Profile

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.