Palatin Technologies, Inc. (PTN) Short Interest Update
Palatin Technologies, Inc. (NYSE:PTN) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,201,816 shares, a growth of 33.4% from the August 31st total of 901,132 shares. Based on an average daily trading volume, of 1,367,129 shares, the short-interest ratio is presently 0.9 days. Currently, 1.6% of the company’s stock are sold short.
A number of brokerages recently commented on PTN. Roth Capital reaffirmed a “buy” rating and issued a $4.00 target price on shares of Palatin Technologies in a research report on Friday, September 23rd. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a research 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 research report on Tuesday, September 20th. Finally, S&P Equity Research decreased their target price on Palatin Technologies from $0.61 to $0.55 in a research report on Thursday, September 22nd.
An institutional investor recently raised its position in Palatin Technologies stock. Vanguard Group Inc. raised its position in shares of Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 2.32% of Palatin Technologies worth $696,000 at the end of the most recent reporting period.
Palatin Technologies (NYSE:PTN) opened at 0.629 on Friday. The firm’s market cap is $54.05 million. The firm’s 50-day moving average price is $0.54 and its 200-day moving average price is $0.53. Palatin Technologies has a 1-year low of $0.36 and a 1-year high of $0.90.
Palatin Technologies (NYSE:PTN) last announced its earnings results on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.01. During the same quarter last year, the company earned $1.05 EPS. Equities research analysts anticipate that Palatin Technologies will post ($0.33) earnings per share for the current fiscal year.
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).
Receive News & Stock Ratings for Palatin Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palatin Technologies Inc. and related stocks with our FREE daily email newsletter.