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

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

Shares of PTN traded up $0.06 during midday trading on Thursday, reaching $0.81. The stock had a trading volume of 645,253 shares, compared to its average volume of 353,234. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65. The company has a market capitalization of $15.81 million, a PE ratio of -0.41 and a beta of 0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings data on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. On average, equities research analysts forecast that Palatin Technologies will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTN. Virtu Financial LLC bought a new stake in shares of Palatin Technologies in the 3rd quarter valued at approximately $51,000. XTX Topco Ltd lifted its stake in shares of Palatin Technologies by 98.6% in 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 last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Palatin Technologies in the second quarter worth about $3,272,000. 11.50% of the stock is 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.