Palatin Technologies, Inc. (PTN) Trading Up -6.3%

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s share price was up 6.3% during trading on Tuesday . The stock traded as high as $0.80 and last traded at $0.75. Approximately 1,943,400 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 1,932,659 shares. The stock had previously closed at $0.80.

Several equities analysts have commented on PTN shares. Zacks Investment Research downgraded Palatin Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 29th. Canaccord Genuity set a $6.00 target price on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, September 10th. Finally, Roth Capital set a $2.00 target price on Palatin Technologies and gave the company a “buy” rating in a research 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 Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $26.94 million during the quarter, compared to the consensus estimate of $28.00 million. During the same period last year, the business earned ($0.08) EPS.

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) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 225,246 shares of the biopharmaceutical company’s stock, valued at approximately $149,000. Russell Investments Group Ltd. owned 0.13% of Palatin Technologies at the end of the most recent reporting period.

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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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