Palatin Technologies, Inc. (PTN) Given a $6.00 Price Target at Canaccord Genuity

Canaccord Genuity set a $6.00 target price on Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in a research note issued to investors on Monday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

PTN has been the subject of a number of other reports. Zacks Investment Research lowered Palatin Technologies from a buy rating to a hold rating in a research note on Saturday, October 7th. 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.

Shares of Palatin Technologies (NYSEAMERICAN:PTN) traded down $0.05 during mid-day trading on Monday, hitting $0.75. The stock had a trading volume of 1,943,400 shares, compared to its average volume of 1,932,659. Palatin Technologies has a one year low of $0.29 and a one year high of $0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Monday, November 13th. The biopharmaceutical company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). During the same period in the prior year, the business posted ($0.08) earnings per share.

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An institutional investor recently bought a new position in Palatin Technologies stock. Russell Investments Group Ltd. bought a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 225,246 shares of the biopharmaceutical company’s stock, valued at approximately $149,000. Russell Investments Group Ltd. owned about 0.13% of Palatin Technologies as of its most recent filing with the Securities & Exchange Commission.

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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