Palatin Technologies, Inc. (PTN) Earns Buy Rating from Roth Capital

Palatin Technologies, Inc. (NYSE:PTN)‘s stock had its “buy” rating reissued by analysts at Roth Capital in a research note issued to investors on Friday. They currently have a $4.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also issued reports on the company. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Canaccord Genuity set a $6.00 target price on Palatin Technologies and gave the company a “buy” rating in a report on Tuesday. Finally, S&P Equity Research reduced their target price on Palatin Technologies from $0.61 to $0.55 in a report on Thursday.

Shares of Palatin Technologies (NYSE:PTN) traded up 12.4667% on Friday, hitting $0.6748. The company’s stock had a trading volume of 3,284,662 shares. The stock’s 50 day moving average price is $0.54 and its 200 day moving average price is $0.52. The stock’s market capitalization is $45.91 million. Palatin Technologies has a 52 week low of $0.36 and a 52 week high of $0.90.

Palatin Technologies (NYSE:PTN) last announced its quarterly earnings data on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, analysts forecast that Palatin Technologies will post ($0.34) earnings per share for the current fiscal year.

An institutional investor recently raised its position in Palatin Technologies stock. Vanguard Group Inc. increased its position in Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,578,758 shares of the biopharmaceutical company’s stock after buying an additional 19,300 shares during the period. Vanguard Group Inc. owned approximately 2.32% of Palatin Technologies worth $696,000 as of its most recent SEC filing.

Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company that develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. The Company’s programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide, which is used for the treatment of female sexual dysfunction (FSD).

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