Russell Investments Group Ltd. Purchases New Position in Palatin Technologies, Inc. (PTN)
Russell Investments Group Ltd. purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 225,246 shares of the biopharmaceutical company’s stock, valued at approximately $149,000. Russell Investments Group Ltd. owned 0.13% of Palatin Technologies at the end of the most recent quarter.
Separately, Bank of New York Mellon Corp boosted its stake in shares of Palatin Technologies by 500.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 151,473 shares of the biopharmaceutical company’s stock worth $101,000 after purchasing an additional 126,236 shares during the period.
PTN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a report on Thursday, October 5th. Canaccord Genuity set a $6.00 price objective on shares of Palatin Technologies and gave the company a “buy” rating in a report on Monday, November 13th. Finally, Roth Capital set a $2.00 price objective on shares of Palatin Technologies and gave the company a “buy” rating in a report on Sunday, October 29th.
Shares of Palatin Technologies, Inc. (PTN) opened at $0.89 on Tuesday. Palatin Technologies, Inc. has a twelve month low of $0.29 and a twelve month high of $1.05. The firm has a market cap of $182.70, a PE ratio of 17.80 and a beta of 1.66.
Palatin Technologies (NYSEAMERICAN:PTN) last announced its quarterly earnings data on Monday, November 13th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Palatin Technologies had a net margin of 39.36% and a return on equity of 10,489.06%. The company had revenue of $26.94 million for the quarter, compared to the consensus estimate of $28.00 million. During the same quarter in the previous year, the business earned ($0.08) EPS.
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Palatin Technologies Profile
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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