Palatin Technologies (PTN) Set to Announce Quarterly Earnings on Wednesday

Palatin Technologies (NYSEAMERICAN:PTN) is scheduled to be announcing its earnings results on Wednesday, September 20th.

Palatin Technologies Price Performance

Shares of PTN stock opened at $1.86 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $2.48. Palatin Technologies has a one year low of $1.80 and a one year high of $8.60. The firm has a market cap of $20.74 million, a price-to-earnings ratio of -0.63 and a beta of 0.95.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PTN shares. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Palatin Technologies in a research note on Monday, August 7th. StockNews.com cut Palatin Technologies from a “hold” rating to a “sell” rating in a report on Monday.

Institutional Trading of Palatin Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc bought a new stake in Palatin Technologies during the 1st quarter worth about $41,000. Dimensional Fund Advisors LP bought a new stake in shares of Palatin Technologies in the 3rd quarter valued at about $135,000. Jane Street Group LLC bought a new stake in shares of Palatin Technologies in the 1st quarter valued at about $103,000. Millennium Management LLC bought a new stake in shares of Palatin Technologies in the 4th quarter valued at about $118,000. Finally, Vanguard Group Inc. increased its stake in shares of Palatin Technologies by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,559,564 shares of the biopharmaceutical company’s stock valued at $4,398,000 after acquiring an additional 48,812 shares during the last quarter. 7.86% of the stock is owned by institutional investors.

About Palatin Technologies

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.