Palatin Technologies, Inc. (PINK:PTNT – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.43 and traded as high as $7.00. Palatin Technologies shares last traded at $5.60, with a volume of 7,665 shares changing hands.
Palatin Technologies Stock Performance
The firm has a market cap of $145.66 million, a price-to-earnings ratio of -3.61 and a beta of 0.87. The business’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.43.
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. It is also developing oral PL8177, a selective MC1r agonist peptide that is in Phase 2 clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease, which is in Phase 3 clinical trial; and melanocortin peptides for diabetic retinopathy.
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