Palatin Technologies, Inc. (NYSE:PTN) had its target price decreased by S&P Equity Research from $0.61 to $0.55 in a report released on Thursday morning.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded Palatin Technologies from a buy rating to a hold rating in a research report on Tuesday, July 5th. Canaccord Genuity set a $6.00 price objective on Palatin Technologies and gave the company a buy rating in a research report on Tuesday. Finally, Roth Capital reiterated a buy rating and issued a $4.00 price objective on shares of Palatin Technologies in a research report on Friday, September 9th.

Shares of Palatin Technologies (NYSE:PTN) opened at 0.60 on Thursday. The firm’s market capitalization is $40.82 million. The firm’s 50-day moving average price is $0.54 and its 200-day moving average price is $0.52. Palatin Technologies has a 12 month low of $0.36 and a 12 month high of $0.90.

Palatin Technologies (NYSE:PTN) last issued its quarterly earnings data on Tuesday, September 20th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. During the same quarter in the previous year, the company posted $1.05 earnings per share. On average, equities analysts anticipate that Palatin Technologies will post ($0.34) earnings per share for the current year.

A hedge fund recently bought a new stake in Palatin Technologies stock. Vivo Capital LLC bought a new position in Palatin Technologies, Inc. (NYSE:PTN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 234,909 shares of the biopharmaceutical company’s stock, valued at approximately $127,000. Palatin Technologies makes up approximately 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.

About Palatin Technologies

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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