Palatin Technologies’ (PTN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report report published on Friday,Benzinga reports. They currently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Stock Up 6.1 %

Shares of PTN stock opened at $1.05 on Friday. The firm has a market capitalization of $20.53 million, a price-to-earnings ratio of -0.53 and a beta of 0.87. Palatin Technologies has a 52-week low of $0.68 and a 52-week high of $4.65.

Hedge Funds Weigh In On Palatin Technologies

Institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd boosted its position in shares of Palatin Technologies by 98.6% during the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 14,432 shares during the last quarter. HB Wealth Management LLC raised its stake in Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock valued at $127,000 after purchasing an additional 51,200 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Palatin Technologies during the third quarter valued at $51,000. 11.50% of the stock is owned by hedge funds and other institutional investors.

About Palatin Technologies

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.