Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above Two Hundred Day Moving Average of $0.00

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.83. Palatin Technologies shares last traded at $1.82, with a volume of 118,745 shares trading hands.

Analyst Ratings Changes

Separately, HC Wainwright decreased their price target on shares of Palatin Technologies from $70.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th.

Palatin Technologies Stock Performance

The company has a market cap of $29.37 million, a P/E ratio of -0.71 and a beta of 0.93.

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

Hedge Funds Weigh In On Palatin Technologies

An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC purchased a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned about 4.29% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. 11.50% of the stock is owned by institutional investors and hedge funds.

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.