Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above Two Hundred Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTNGet Rating)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $8.60. Palatin Technologies shares last traded at $8.06, with a volume of 209,510 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PTN. HC Wainwright reiterated a “buy” rating and issued a $70.00 price objective on shares of Palatin Technologies in a research note on Thursday, September 8th. LADENBURG THALM/SH SH increased their price objective on shares of Palatin Technologies to $50.00 and gave the stock a “buy” rating in a research note on Friday, September 9th.

Palatin Technologies Trading Down 3.2 %

The stock has a market capitalization of $74.70 million, a PE ratio of -53.73 and a beta of 0.79.

Institutional Investors Weigh In On Palatin Technologies

Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its position in shares of Palatin Technologies by 388.0% during the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 180,400 shares during the last quarter. State Street Corp increased its stake in shares of Palatin Technologies by 8.2% during the 1st quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after acquiring an additional 57,440 shares during the last quarter. Vanguard Group Inc. increased 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 worth $4,398,000 after purchasing an additional 48,812 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in Palatin Technologies in the first quarter valued at approximately $1,422,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Palatin Technologies during the 4th quarter valued at approximately $29,000. 8.79% of the stock is currently owned by institutional investors and hedge funds.

About Palatin Technologies

(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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