Palatin Technologies’ (PTN) “Buy” Rating Reiterated at HC Wainwright

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

Palatin Technologies Trading Up 2.9 %

PTN opened at $2.11 on Thursday. Palatin Technologies has a twelve month low of $1.43 and a twelve month high of $5.65.

Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.36). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. The firm had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.28 million. During the same period in the prior year, the business earned ($0.13) EPS. On average, research analysts predict that Palatin Technologies will post -2.36 EPS for the current year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. Armistice Capital LLC acquired a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned 4.29% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 11.50% of the company’s stock.

Palatin Technologies Company Profile

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.