Palatin Technologies, Inc. (PTN) Short Interest Up 7.5% in October
Palatin Technologies, Inc. (NYSE:PTN) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,249,926 shares, an increase of 7.5% from the October 13th total of 3,024,549 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 1,304,756 shares, the short-interest ratio is presently 2.5 days.
PTN has been the subject of a number of research reports. Roth Capital set a $2.00 target price on Palatin Technologies and gave the company a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research downgraded Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. Finally, Canaccord Genuity set a $6.00 target price on Palatin Technologies and gave the company a “buy” rating in a research note on Sunday, September 10th.
A hedge fund recently bought a new stake in Palatin Technologies stock. Russell Investments Group Ltd. bought a new position in shares of Palatin Technologies, Inc. (NYSE:PTN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 225,246 shares of the biopharmaceutical company’s stock, valued at approximately $149,000. Russell Investments Group Ltd. owned approximately 0.13% of Palatin Technologies at the end of the most recent reporting period.
Palatin Technologies (NYSE PTN) opened at $0.75 on Tuesday. Palatin Technologies has a 52-week low of $0.29 and a 52-week high of $0.90.
Palatin Technologies (NYSE:PTN) last issued its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $33.90 million for the quarter, compared to analyst estimates of $18.54 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.
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Palatin Technologies Company Profile
Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
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