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 Palatin Technologies stock opened at $1.86 on Tuesday. The company has a market capitalization of $20.74 million, a price-to-earnings ratio of -0.63 and a beta of 0.95. The firm has a 50-day moving average price of $2.48. The company has a current ratio of 2.05, a quick ratio of 1.99 and a debt-to-equity ratio of 0.01. Palatin Technologies has a one year low of $1.80 and a one year high of $8.60.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Palatin Technologies

Hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC bought a new position in shares of Palatin Technologies during the fourth quarter worth approximately $2,167,000. Renaissance Technologies LLC raised its holdings in Palatin Technologies by 388.0% in the 2nd 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 in the last quarter. State Street Corp grew its holdings 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 worth $349,000 after purchasing an additional 57,440 shares in the last quarter. Vanguard Group Inc. increased 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 purchasing an additional 48,812 shares during the period. Finally, Millennium Management LLC acquired a new position in Palatin Technologies in the fourth quarter valued at about $118,000. 7.86% of the stock is currently owned by institutional investors and hedge funds.

Palatin Technologies Company Profile

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.