Palatin Technologies (NYSEAMERICAN:PTN) Upgraded to Hold by StockNews.com

Technology News

StockNews.com upgraded shares of Palatin Technologies (NYSEAMERICAN:PTN – Get Rating) from a sell rating to a hold rating in a research report report published on Tuesday.

Separately, HC Wainwright reaffirmed a buy rating and issued a $70.00 price target on shares of Palatin Technologies in a research note on Monday, March 13th.

Palatin Technologies Price Performance

NYSEAMERICAN:PTN opened at $2.27 on Tuesday. Palatin Technologies has a 1-year low of $2.08 and a 1-year high of $9.48. The company has a current ratio of 2.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $3.85. The stock has a market capitalization of $25.31 million, a PE ratio of -0.77 and a beta of 1.01.

Want More Great Investment Ideas?

Palatin Technologies (NYSEAMERICAN:PTN – Get Rating) last released its quarterly earnings data on Tuesday, May 16th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.24). Palatin Technologies has a negative return on equity of 278.73% and a negative net margin of 766.11%. The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.09 million. During the same period last year, the firm earned ($0.75) earnings per share. On average, research analysts expect that Palatin Technologies will post -2.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Palatin Technologies

Several large investors have recently made changes to their positions in the business. CIBC Asset Management Inc purchased a new stake in Palatin Technologies in the 1st quarter worth about $41,000. Montis Financial LLC purchased a new stake in Palatin Technologies in the 1st quarter worth about $58,000. Dimensional Fund Advisors LP purchased a new stake in Palatin Technologies in the 3rd quarter worth about $135,000. Jane Street Group LLC purchased a new stake in Palatin Technologies in the 1st quarter worth about $103,000. Finally, Millennium Management LLC purchased a new stake in Palatin Technologies in the 4th quarter worth about $118,000. 9.03% of the stock is owned by hedge funds and other institutional investors.

About Palatine Technologies

(Get Rating)

Palatin Technologies, Inc is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin receptor system. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, which is used for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD).

Featured Stories

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.