Palatin Technologies (NYSEAMERICAN:PTN) Given New $7.00 Price Target at HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTN) had its price target decreased by HC Wainwright from $17.00 to $7.00 in a report published on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 7.1 %

Shares of PTN opened at $1.06 on Thursday. The firm has a market capitalization of $20.72 million, a P/E ratio of -0.53 and a beta of 0.87. Palatin Technologies has a 52-week low of $0.68 and a 52-week high of $4.18.

Institutional Trading of Palatin Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HB Wealth Management LLC increased its stake in shares of Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 51,200 shares during the period. Virtu Financial LLC bought a new position in Palatin Technologies during the 3rd quarter worth about $51,000. Finally, XTX Topco Ltd increased its position in Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 14,432 shares during the period. 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.