Palatin Technologies, Inc. (PTN) Issues Earnings Results
Palatin Technologies, Inc. (NYSE:PTN) announced its earnings results on Tuesday. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.03.
Palatin Technologies (NYSE:PTN) opened at 0.5567 on Tuesday. The company has a 50-day moving average of $0.54 and a 200-day moving average of $0.52. Palatin Technologies has a 52-week low of $0.36 and a 52-week high of $0.93. The stock’s market capitalization is $37.88 million.
A number of equities analysts recently weighed in on PTN shares. Zacks Investment Research lowered shares of 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 issued a $4.00 price objective on shares of Palatin Technologies in a research report on Friday, September 9th.
A hedge fund recently raised its stake in Palatin Technologies stock. Vanguard Group Inc. increased its position in Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. 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 approximately 2.32% of Palatin Technologies worth $696,000 as of its most recent filing with the SEC.
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).
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