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

Palatin Technologies, Inc. (NYSEAMERICAN:PTNGet Free Report)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $1.93. Palatin Technologies shares last traded at $1.83, with a volume of 70,030 shares traded.

Wall Street Analyst Weigh In

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

Read Our Latest Research Report on Palatin Technologies

Palatin Technologies Stock Down 2.7 %

The stock has a market capitalization of $29.54 million, a P/E ratio of -0.74 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTNGet Free Report) last issued its earnings results 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 return on equity of 583.06% and a negative net margin of 445.12%. During the same period in the prior year, the firm posted ($0.63) EPS. As a group, equities research analysts expect that Palatin Technologies, Inc. will post -2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC purchased a new stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTNFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 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. Hedge funds and other institutional investors own 11.50% of the company’s stock.

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.

Further Reading

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