Palatin Technologies, Inc. (NYSE:PTN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $0.41, but opened at $0.42. Palatin Technologies shares last traded at $0.43, with a volume of 2,261,546 shares.

A number of brokerages recently issued reports on PTN. Canaccord Genuity reaffirmed a “buy” rating and set a $6.00 target price on shares of Palatin Technologies in a research report on Thursday, June 1st. Zacks Investment Research downgraded shares of Palatin Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, July 29th.

The firm’s market cap is $69.22 million. The firm has a 50 day moving average price of $0.42 and a 200-day moving average price of $0.39.

An institutional investor recently raised its position in Palatin Technologies stock. National Asset Management Inc. boosted its stake in Palatin Technologies, Inc. (NYSE:PTN) by 46.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 315,000 shares of the biopharmaceutical company’s stock after buying an additional 100,000 shares during the period. National Asset Management Inc. owned 0.23% of Palatin Technologies worth $104,000 at the end of the most recent quarter.

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Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.