Palatin Technologies (NYSEAMERICAN:PTN) Share Price Crosses Above Two Hundred Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $1.46. Palatin Technologies shares last traded at $1.39, with a volume of 257,014 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of Palatin Technologies in a report on Thursday, June 20th.

Palatin Technologies Trading Up 1.5 %

The firm has a market cap of $26.92 million, a price-to-earnings ratio of -0.56 and a beta of 1.01.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Wednesday, May 15th. The biopharmaceutical company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.03). During the same quarter in the previous year, the firm earned ($0.63) EPS. As a group, analysts predict that Palatin Technologies, Inc. will post -2.41 EPS for the current year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. XTX Topco Ltd purchased a new position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned approximately 0.08% of Palatin Technologies as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 11.50% of the company’s stock.

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.