Palatin Technologies (NYSEAMERICAN:PTN) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research note released on Monday morning,Benzinga reports. The firm currently has a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 16.7 %

Shares of PTN opened at $1.12 on Monday. The stock has a market cap of $21.90 million, a price-to-earnings ratio of -0.56 and a beta of 0.93. Palatin Technologies has a 1-year low of $0.68 and a 1-year high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. As a group, equities research analysts predict that Palatin Technologies will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Palatin Technologies

Several large investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new stake in shares of Palatin Technologies in the 2nd quarter valued at approximately $3,272,000. Virtu Financial LLC purchased a new position in Palatin Technologies in the third quarter valued at $51,000. Finally, XTX Topco Ltd acquired a new stake in Palatin Technologies in the second quarter valued at $29,000. 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.