Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.83. Palatin Technologies shares last traded at $1.82, with a volume of 118,745 shares trading hands.
Analyst Ratings Changes
Separately, HC Wainwright decreased their price target on shares of Palatin Technologies from $70.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, February 28th.
Read Our Latest Research Report on Palatin Technologies
Palatin Technologies Stock Performance
Palatin Technologies (NYSEAMERICAN:PTN – Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.36). The firm had revenue of $2.03 million for the quarter, compared to analysts’ expectations of $2.28 million. Palatin Technologies had a negative return on equity of 583.06% and a negative net margin of 445.12%. During the same period in the prior year, the firm earned ($0.13) earnings per share. Equities analysts forecast that Palatin Technologies, Inc. will post -2.36 earnings per share for the current year.
Hedge Funds Weigh In On Palatin Technologies
An institutional investor recently bought a new position in Palatin Technologies stock. Armistice Capital LLC purchased a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 590,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,348,000. Armistice Capital LLC owned about 4.29% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. 11.50% of the stock is owned by institutional investors and hedge funds.
Palatin Technologies Company 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 lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.
Featured Stories
- Five stocks we like better than Palatin Technologies
- Stock Average Calculator
- 3 Stocks Leading the U.S. Agriculture Comeback
- What Do S&P 500 Stocks Tell Investors About the Market?
- How to Use Put Debit Spreads to Profit From Falling Stocks
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for Palatin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Palatin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.