Acadian Asset Management LLC reduced its stake in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,099,754 shares of the biopharmaceutical company’s stock after selling 147,056 shares during the period. Acadian Asset Management LLC owned 1.53% of Palatin Technologies worth $3,093,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in Palatin Technologies by 771.0% in the second quarter. BlackRock Inc. now owns 10,669,330 shares of the biopharmaceutical company’s stock valued at $10,348,000 after buying an additional 9,444,346 shares during the period. Northern Trust Corp raised its holdings in Palatin Technologies by 524.9% in the second quarter. Northern Trust Corp now owns 2,082,532 shares of the biopharmaceutical company’s stock valued at $2,020,000 after buying an additional 1,749,255 shares during the period. Strs Ohio purchased a new position in Palatin Technologies in the second quarter valued at approximately $746,000. Bank of New York Mellon Corp raised its holdings in Palatin Technologies by 263.6% in the second quarter. Bank of New York Mellon Corp now owns 512,132 shares of the biopharmaceutical company’s stock valued at $497,000 after buying an additional 371,276 shares during the period. Finally, Schwab Charles Investment Management Inc. purchased a new position in Palatin Technologies in the second quarter valued at approximately $355,000.
PTN stock opened at $0.93 on Friday. Palatin Technologies, Inc. has a twelve month low of $0.75 and a twelve month high of $1.59.
Palatin Technologies (NYSEAMERICAN:PTN) last released its quarterly earnings data on Thursday, September 13th. The biopharmaceutical company reported $0.06 EPS for the quarter. The business had revenue of $20.62 million during the quarter, compared to analyst estimates of $6.03 million. During the same period in the prior year, the firm earned ($0.02) EPS.
PTN has been the topic of several research reports. HC Wainwright set a $5.00 price target on shares of Palatin Technologies and gave the company a “buy” rating in a report on Thursday, September 13th. Zacks Investment Research lowered shares of Palatin Technologies from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $3.75.
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Palatin Technologies 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 principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.
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