HC Wainwright Reiterates Buy Rating for Palatin Technologies (NYSEAMERICAN:PTN)

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $17.00 price target on the biopharmaceutical company’s stock.

Palatin Technologies Stock Performance

NYSEAMERICAN:PTN opened at $0.99 on Friday. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $4.65. The firm has a market capitalization of $19.35 million, a PE ratio of -0.50 and a beta of 0.87.

Hedge Funds Weigh In On Palatin Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd grew its stake in shares of Palatin Technologies by 98.6% in the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 14,432 shares during the period. Virtu Financial LLC acquired a new stake in Palatin Technologies in the third quarter valued at approximately $51,000. Finally, HB Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 51,200 shares in the last quarter. 11.50% of the stock is currently 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.