Palatin Technologies (OTCMKTS:PTNT) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Palatin Technologies, Inc. (OTCMKTS:PTNT)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.82 and traded as high as $24.23. Palatin Technologies shares last traded at $24.23, with a volume of 223 shares trading hands.

Palatin Technologies Stock Performance

The company has a 50 day moving average price of $26.15 and a 200 day moving average price of $14.82. The firm has a market cap of $969,200.00, a price-to-earnings ratio of -15.63 and a beta of 1.38.

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. 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.