Palatin Technologies (NYSEAMERICAN:PTN) Price Target Raised to $50.00

Palatin Technologies (NYSEAMERICAN:PTNGet Rating) had its price target lifted by equities research analysts at LADENBURG THALM/SH SH to $50.00 in a research report issued on Friday, September 9th, Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $70.00 price objective on shares of Palatin Technologies in a research note on Thursday, September 8th.

Palatin Technologies Stock Performance

Shares of PTN traded up $0.37 during midday trading on Friday, hitting $8.33. 129,045 shares of the stock traded hands, compared to its average volume of 55,789. Palatin Technologies has a 1-year low of $4.00 and a 1-year high of $24.00. The company has a market cap of $77.20 million, a price-to-earnings ratio of -52.66 and a beta of 0.79.

Institutional Investors Weigh In On Palatin Technologies

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