Palatin Technologies, Inc. (PTN) Given a $6.00 Price Target by Canaccord Genuity Analysts
Palatin Technologies, Inc. (NYSE:PTN) has been given a $6.00 target price by investment analysts at Canaccord Genuity in a report issued on Tuesday. The firm presently has a a “buy” rating on the biopharmaceutical company’s stock.
A number of other equities analysts have also issued reports on the company. Roth Capital reissued a “buy” rating and set a $4.00 price target on shares of Palatin Technologies in a report on Friday, September 9th. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.
Palatin Technologies (NYSE:PTN) traded up 0.7733% during midday trading on Tuesday, reaching $0.5343. The company’s stock had a trading volume of 1,202,517 shares. The firm’s market capitalization is $36.35 million. Palatin Technologies has a 52 week low of $0.36 and a 52 week high of $0.90. The company’s 50-day moving average is $0.54 and its 200 day moving average is $0.52.
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Palatin Technologies (NYSE:PTN) last issued its quarterly earnings data on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.01. During the same period in the prior year, the firm earned $1.05 earnings per share. Analysts expect that Palatin Technologies will post ($0.31) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Palatin Technologies stock. Vanguard Group Inc. boosted its position in shares of Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 reporting period.
Palatin Technologies Company Profile
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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