Palatin Technologies Rating Lowered to Underperform at Zacks (PTN)
Palatin Technologies (NYSE:PTN) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Thursday, American Banking & Market News reports. They currently have a $0.60 price target on the stock. Zacks‘ price objective points to a potential downside of 10.45% from the company’s current price.
Shares of Palatin Technologies (NYSE:PTN) traded down 1.68% during mid-day trading on Thursday, hitting $0.651. 58,946 shares of the company’s stock traded hands. Palatin Technologies has a 52 week low of $0.51 and a 52 week high of $1.10. The stock’s 50-day moving average is $0.67 and its 200-day moving average is $0.63. The company’s market cap is $25.5 million.
Palatin Technologies (NYSE:PTN) last issued its quarterly earnings data on Tuesday, October 1st. The company reported ($0.04) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.05) by $0.01. During the same quarter in the prior year, the company posted ($0.16) earnings per share. On average, analysts predict that Palatin Technologies will post $-0.16 earnings per share for the current fiscal year.
Palatin Technologies, Inc (NYSE:PTN) is a biopharmaceutical company engaged in the development of peptide, peptide mimetic and small molecule agonist compounds with a focus on melanocortin and natriuretic peptide receptor systems.
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