Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

Palatin Technologies (NYSEAMERICAN:PTNGet Rating)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Thursday, September 8th, The Fly reports. They presently have a $70.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

NYSEAMERICAN PTN traded up $0.37 during mid-day trading on Thursday, hitting $8.33. The company’s stock had a trading volume of 129,045 shares, compared to its average volume of 55,789. Palatin Technologies has a 52-week low of $4.00 and a 52-week high of $24.00. The firm has a market capitalization of $77.20 million, a price-to-earnings ratio of -52.66 and a beta of 0.79.

Institutional Trading of Palatin Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Palatin Technologies by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,559,564 shares of the biopharmaceutical company’s stock valued at $4,398,000 after purchasing an additional 48,812 shares during the period. State Street Corp lifted its stake in Palatin Technologies by 8.2% in the first quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after buying an additional 57,440 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Palatin Technologies by 388.0% during the second quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 180,400 shares during the period. Connective Portfolio Management LLC bought a new position in shares of Palatin Technologies during the first quarter worth about $1,422,000. Finally, Qube Research & Technologies Ltd acquired a new position in Palatin Technologies during the 4th quarter valued at about $29,000. Institutional investors own 8.79% of the company’s stock.

Palatin Technologies Company Profile

(Get Rating)

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.

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