Palatin Technologies’ (PTN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report sent to investors on Tuesday,Benzinga reports. HC Wainwright currently has a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

Shares of PTN stock opened at $0.90 on Tuesday. Palatin Technologies has a 12 month low of $0.68 and a 12 month high of $5.22. The firm has a market capitalization of $17.60 million, a PE ratio of -0.45 and a beta of 0.90.

Hedge Funds Weigh In On Palatin Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTN. XTX Topco Ltd bought a new stake in shares of Palatin Technologies during the second quarter worth approximately $29,000. Virtu Financial LLC bought a new stake in Palatin Technologies in the 3rd quarter valued at $51,000. Finally, HB Wealth Management LLC grew its holdings in Palatin Technologies by 86.3% in the 4th quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 51,200 shares in the last quarter. 11.50% of the stock is owned by institutional investors.

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.