Palatin Technologies, Inc. (PTN) Short Interest Up 2.2% in December
Palatin Technologies, Inc. (NYSEAMERICAN:PTN) saw a large increase in short interest in December. As of December 29th, there was short interest totalling 5,030,680 shares, an increase of 2.2% from the December 15th total of 4,923,874 shares. Based on an average daily volume of 893,410 shares, the short-interest ratio is presently 5.6 days. Approximately 2.8% of the shares of the stock are short sold.
An institutional investor recently raised its position in Palatin Technologies stock. Bank of New York Mellon Corp raised its position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 500.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,473 shares of the biopharmaceutical company’s stock after acquiring an additional 126,236 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of Palatin Technologies worth $101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of research firms recently commented on PTN. Zacks Investment Research cut Palatin Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. Canaccord Genuity set a $6.00 price objective on Palatin Technologies and gave the stock a “buy” rating in a report on Monday, November 13th. Finally, Roth Capital set a $2.00 price objective on Palatin Technologies and gave the stock a “buy” rating in a report on Sunday, October 29th.
Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings data on Monday, November 13th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $26.94 million for the quarter, compared to analysts’ expectations of $28.00 million. Palatin Technologies had a return on equity of 10,489.06% and a net margin of 39.36%. During the same period last year, the company earned ($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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