Roth Capital Reiterates Buy Rating for Palatin Technologies, Inc. (PTN)
Palatin Technologies, Inc. (NYSE:PTN)‘s stock had its “buy” rating reaffirmed by Roth Capital in a research report issued on Friday. They presently have a $7.00 price objective on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Friday, September 23rd. Canaccord Genuity set a $6.00 target price on shares of Palatin Technologies and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Finally, S&P Equity Research lowered their target price on shares of Palatin Technologies from $0.61 to $0.55 in a research note on Thursday, September 22nd.
Palatin Technologies (NYSE:PTN) opened at 0.53 on Friday. The stock has a 50 day moving average of $0.54 and a 200-day moving average of $0.54. The company’s market capitalization is $45.55 million. Palatin Technologies has a 12-month low of $0.36 and a 12-month high of $0.86.
Palatin Technologies (NYSE:PTN) last released its quarterly earnings results on Tuesday, November 15th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). During the same quarter last year, the firm posted ($0.08) earnings per share. Equities analysts expect that Palatin Technologies will post ($0.28) earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. National Asset Management Inc. raised its position in Palatin Technologies by 71.4% in the third quarter. National Asset Management Inc. now owns 240,000 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 100,000 shares in the last quarter. Vanguard Group Inc. raised its position in Palatin Technologies by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,578,758 shares of the biopharmaceutical company’s stock valued at $696,000 after buying an additional 19,300 shares in the last quarter. Sphera Funds Management LTD. raised its position in Palatin Technologies by 87.7% in the third quarter. Sphera Funds Management LTD. now owns 1,906,037 shares of the biopharmaceutical company’s stock valued at $1,199,000 after buying an additional 890,663 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new position in Palatin Technologies during the third quarter valued at approximately $1,289,000.
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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