Palatin Technologies (PINK:PTNT) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Palatin Technologies, Inc. (PINK:PTNT) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.46 and traded as high as $7.00. Palatin Technologies shares last traded at $5.60, with a volume of 7,665 shares traded.

Palatin Technologies Stock Performance

The company’s 50 day moving average is $5.60 and its 200-day moving average is $5.46. The stock has a market cap of $145.66 million, a PE ratio of -3.61 and a beta of 0.87.

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. It is also developing oral PL8177, a selective MC1r agonist peptide that is in Phase 2 clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease, which is in Phase 3 clinical trial; and melanocortin peptides for diabetic retinopathy.