Palatin Technologies, Inc. (PTN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Palatin Technologies, Inc. (NYSE:PTN) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. During the same quarter last year, the business posted $1.05 EPS.
Palatin Technologies (NYSE:PTN) opened at 0.55 on Thursday. The company’s market cap is $37.42 million. The stock has a 50 day moving average of $0.54 and a 200-day moving average of $0.52. Palatin Technologies has a 12-month low of $0.36 and a 12-month high of $0.90.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Roth Capital reaffirmed a “buy” rating and set a $4.00 price objective on shares of Palatin Technologies in a research report on Friday, September 9th. Finally, Canaccord Genuity set a $6.00 price objective on shares of Palatin Technologies and gave the stock a “buy” rating in a research report on Tuesday.
An institutional investor recently bought a new position in Palatin Technologies stock. Vivo Capital LLC purchased a new stake in shares of Palatin Technologies, Inc. (NYSE:PTN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 234,909 shares of the biopharmaceutical company’s stock, valued at approximately $127,000. Palatin Technologies comprises about 0.0% of Vivo Capital LLC’s holdings, making the stock its 24th largest position. Vivo Capital LLC owned 0.35% of Palatin Technologies at the end of the most recent reporting period.
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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