HC Wainwright Reaffirms “Buy” Rating for Palatin Technologies (NYSEAMERICAN:PTN)

HC Wainwright reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a report published on Thursday morning, Benzinga reports. HC Wainwright currently has a $17.00 target price on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

Shares of NYSEAMERICAN:PTN opened at $1.23 on Thursday. Palatin Technologies has a 1-year low of $0.68 and a 1-year high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, analysts expect that Palatin Technologies will post -2.03 EPS for the current year.

Institutional Investors Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC acquired a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,678,101 shares of the biopharmaceutical company’s stock, valued at approximately $3,272,000. Armistice Capital LLC owned approximately 8.66% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 11.50% of the company’s stock.

Palatin Technologies Company Profile

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.