Palatin Technologies, Inc. (PTN) Issues Earnings Results
Palatin Technologies, Inc. (NYSE:PTN) announced its earnings results on Monday. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), RTT News reports. During the same period last year, the company posted ($0.08) earnings per share.
Shares of Palatin Technologies (NYSE PTN) traded up $0.04 during trading on Tuesday, hitting $0.79. The stock had a trading volume of 591,282 shares, compared to its average volume of 1,930,000. Palatin Technologies has a 12-month low of $0.29 and a 12-month high of $0.90.
PTN has been the topic of several recent research reports. Canaccord Genuity set a $6.00 price objective on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, September 10th. Zacks Investment Research upgraded Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 price objective on the stock in a research report on Thursday, October 5th. Finally, Roth Capital set a $2.00 price objective on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, October 29th.
About Palatin Technologies
Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.
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