Palatin Technologies, Inc. (PTN) Announces Earnings Results, Misses Expectations By $0.03 EPS
Palatin Technologies, Inc. (NYSE:PTN) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.03.
Palatin Technologies (NYSE:PTN) opened at 0.5567 on Tuesday. The firm’s market capitalization is $37.88 million. Palatin Technologies has a 52 week low of $0.36 and a 52 week high of $0.93. The firm has a 50-day moving average price of $0.54 and a 200 day moving average price of $0.52.
A hedge fund recently raised its stake in Palatin Technologies stock. Vanguard Group Inc. raised its stake in shares of Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,578,758 shares of the biopharmaceutical company’s stock after buying an additional 19,300 shares during the period. Vanguard Group Inc. owned 2.32% of Palatin Technologies worth $696,000 at the end of the most recent quarter.
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PTN has been the topic of a number of recent analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Palatin Technologies in a research note on Friday, September 9th. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th.
About Palatin Technologies
Palatin Technologies, Inc is a biopharmaceutical company that develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. The Company’s programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide, which is used for the treatment of female sexual dysfunction (FSD).
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