Palatin Technologies, Inc. (PTN) Upgraded at Zacks Investment Research
Palatin Technologies, Inc. (NYSE:PTN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday. The brokerage currently has a $0.75 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price target indicates a potential upside of 25.00% from the company’s previous close.
According to Zacks, “Palatin Technologies, Inc is a development-stage medical technology company involved in developing and commercializing products and technologies for diagnostic imaging, cancer therapy and ethical drug development These developments are based on its proprietary monoclonal antibody radiolabeling and enabling peptide platform technologies. “
A number of other analysts also recently commented on PTN. Roth Capital restated a “buy” rating and set a $4.00 price objective on shares of Palatin Technologies in a report on Friday, September 9th. Canaccord Genuity set a $6.00 price target on Palatin Technologies and gave the company a “buy” rating in a report on Tuesday. Finally, S&P Equity Research lowered their price target on Palatin Technologies from $0.61 to $0.55 in a report on Thursday.
Shares of Palatin Technologies (NYSE:PTN) opened at 0.60 on Friday. Palatin Technologies has a 52-week low of $0.36 and a 52-week high of $0.90. The stock’s 50 day moving average price is $0.54 and its 200-day moving average price is $0.52. The firm’s market cap is $40.82 million.
Palatin Technologies (NYSE:PTN) last released its quarterly earnings data on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.01. During the same period last year, the business posted $1.05 earnings per share. On average, equities research analysts anticipate that Palatin Technologies will post ($0.34) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Palatin Technologies stock. Vivo Capital LLC acquired a new position in shares of Palatin Technologies, Inc. (NYSE:PTN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 234,909 shares of the biopharmaceutical company’s stock, valued at approximately $127,000. Palatin Technologies makes up about 0.0% of Vivo Capital LLC’s portfolio, making the stock its 24th largest position. Vivo Capital LLC owned approximately 0.35% of Palatin Technologies at the end of the most recent quarter.
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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