Palatin Technologies, Inc. (NYSE:PTN) received a $6.00 price objective from Canaccord Genuity in a research report issued to clients and investors on Tuesday. The brokerage currently has a a “buy” rating on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Palatin Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Roth Capital reiterated a “buy” rating and set a $4.00 price target on shares of Palatin Technologies in a research report on Friday, September 9th.

Palatin Technologies (NYSE:PTN) traded up 0.7733% during trading on Tuesday, hitting $0.5343. The stock had a trading volume of 1,202,517 shares. The company’s market cap is $36.35 million. The company’s 50 day moving average is $0.54 and its 200-day moving average is $0.52. Palatin Technologies has a 12 month low of $0.36 and a 12 month high of $0.90.

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Palatin Technologies (NYSE:PTN) last issued its earnings results on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, equities research analysts predict that Palatin Technologies will post ($0.31) earnings per share for the current year.

An institutional investor recently raised its position in Palatin Technologies stock. Vanguard Group Inc. boosted its stake in shares of Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

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).

5 Day Chart for NYSE:PTN

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