Palatin Technologies (OTCMKTS:PTNT) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Palatin Technologies, Inc. (OTCMKTS:PTNT) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.77 and traded as high as $24.77. Palatin Technologies shares last traded at $24.77, with a volume of 46 shares trading hands.

Palatin Technologies Stock Performance

The company’s fifty day simple moving average is $26.36 and its two-hundred day simple moving average is $13.77. The company has a market capitalization of $990,800.00, a price-to-earnings ratio of -15.98 and a beta of 1.63.

About Palatin Technologies

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. It is also developing oral PL8177, a selective MC1r agonist peptide that is in Phase 2 clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease, which is in Phase 3 clinical trial; and melanocortin peptides for diabetic retinopathy.