Palatin Technologies (NYSEAMERICAN:PTN) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Palatin Technologies (NYSEAMERICAN:PTN) announced its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.03), RTT News reports. Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. During the same quarter in the previous year, the firm posted ($0.63) EPS.

Palatin Technologies Stock Performance

NYSEAMERICAN:PTN traded down $0.01 on Thursday, hitting $2.06. The stock had a trading volume of 68,080 shares, compared to its average volume of 560,518. The stock has a market capitalization of $33.25 million, a price-to-earnings ratio of -0.79 and a beta of 0.86. Palatin Technologies has a 52-week low of $1.43 and a 52-week high of $5.65.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $17.00 target price on shares of Palatin Technologies in a research report on Wednesday.

Palatin Technologies Company Profile

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.