Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.18. Palatin Technologies shares last traded at $1.08, with a volume of 241,697 shares trading hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Palatin Technologies in a research report on Thursday, December 19th.

Palatin Technologies Trading Down 1.9 %

The company has a market capitalization of $20.72 million, a P/E ratio of -0.53 and a beta of 0.90.

Institutional Investors Weigh In On Palatin Technologies

Hedge funds have recently made changes to their positions in the company. Armistice Capital LLC bought a new stake in shares of Palatin Technologies during the second quarter worth $3,272,000. Virtu Financial LLC bought a new position in Palatin Technologies in the 3rd quarter worth approximately $51,000. HB Wealth Management LLC raised its position in Palatin Technologies by 86.3% in the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Palatin Technologies in the 2nd quarter valued at $29,000. Institutional investors and hedge funds 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.