Palatin Technologies (NYSEAMERICAN:PTN) Share Price Crosses Above 200 Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTNGet Free Report)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.00 and traded as high as $2.07. Palatin Technologies shares last traded at $2.00, with a volume of 259,900 shares.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Palatin Technologies in a report on Wednesday, May 15th.

Check Out Our Latest Report on Palatin Technologies

Palatin Technologies Price Performance

The firm has a market capitalization of $32.28 million, a PE ratio of -0.81 and a beta of 0.86.

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. During the same quarter in the prior year, the business posted ($0.63) earnings per share. Equities research analysts predict that Palatin Technologies, Inc. will post -2.41 earnings per share for the current year.

Institutional Trading of Palatin Technologies

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

About Palatin Technologies

(Get Free Report)

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.

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