HC Wainwright Reaffirms Buy Rating for Palatin Technologies (NYSEAMERICAN:PTN)

HC Wainwright reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a report issued on Thursday, Benzinga reports. They currently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Trading Down 3.2 %

Shares of PTN stock opened at $1.20 on Thursday. Palatin Technologies has a 1 year low of $0.68 and a 1 year high of $5.65. The company has a market cap of $23.46 million, a PE ratio of -0.58 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. Research analysts predict that Palatin Technologies will post -2.03 EPS for the current year.

Institutional Investors Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned about 8.66% of Palatin Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 11.50% 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.