Palatin Technologies (NYSEAMERICAN:PTN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.40. Palatin Technologies shares last traded at $1.21, with a volume of 300,805 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Palatin Technologies in a research report on Thursday, December 19th.

Palatin Technologies Stock Performance

The company has a market cap of $23.46 million, a PE ratio of -0.60 and a beta of 0.90.

Hedge Funds Weigh In On Palatin Technologies

Several institutional investors and hedge funds have recently made changes to their positions in PTN. XTX Topco Ltd acquired a new position in Palatin Technologies in the second quarter worth about $29,000. Armistice Capital LLC bought a new position in Palatin Technologies during the 2nd quarter worth approximately $3,272,000. Finally, Virtu Financial LLC bought a new position in Palatin Technologies during the 3rd quarter worth approximately $51,000. 11.50% of the stock is currently owned by hedge funds and other 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.