Palatin Technologies, Inc. (PTN) Given a $6.00 Price Target by Canaccord Genuity Analysts
Palatin Technologies, Inc. (NYSE:PTN) has been given a $6.00 target price by research analysts at Canaccord Genuity in a research report issued to clients and investors on Tuesday. The brokerage currently has a a “buy” rating on the biopharmaceutical company’s stock.
Other equities research analysts also recently issued research reports about the stock. Roth Capital reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Palatin Technologies in a report on Friday, September 9th. Zacks Investment Research downgraded shares of Palatin Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.
Shares of Palatin Technologies (NYSE:PTN) opened at 0.55 on Tuesday. The stock’s 50 day moving average is $0.54 and its 200-day moving average is $0.52. The stock’s market capitalization is $37.42 million. Palatin Technologies has a one year low of $0.36 and a one year high of $0.90.
Palatin Technologies (NYSE:PTN) last posted its quarterly earnings data on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.01. During the same period last year, the business earned $1.05 EPS. On average, equities research analysts expect that Palatin Technologies will post ($0.33) EPS for the current year.
An institutional investor recently raised its position in Palatin Technologies stock. Vanguard Group Inc. raised its position in shares of Palatin Technologies, Inc. (NYSE:PTN) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,578,758 shares of the biopharmaceutical company’s stock after buying an additional 19,300 shares during the period. Vanguard Group Inc. owned approximately 2.32% of Palatin Technologies worth $696,000 as of its most recent filing with the SEC.
Palatin Technologies Company Profile
Palatin Technologies, Inc is a biopharmaceutical company that develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. The Company’s programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide, which is used for the treatment of female sexual dysfunction (FSD).
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