Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Price Performance

NYSEAMERICAN:PTN traded up $0.15 on Monday, hitting $1.11. 109,070 shares of the company’s stock traded hands, compared to its average volume of 345,788. Palatin Technologies has a 1 year low of $0.68 and a 1 year high of $5.65. The stock has a market cap of $21.70 million, a PE ratio of -0.56 and a beta of 0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that Palatin Technologies will post -1.66 earnings per share for the current year.

Hedge Funds Weigh In On Palatin Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC acquired a new position in shares of Palatin Technologies in the second quarter valued at about $3,272,000. Virtu Financial LLC acquired a new stake in Palatin Technologies in the third quarter valued at approximately $51,000. Finally, XTX Topco Ltd acquired a new position in shares of Palatin Technologies during the 2nd quarter worth approximately $29,000. 11.50% of the stock is owned by institutional investors.

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.