Palatin Technologies (NYSEAMERICAN:PTN) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.04. Palatin Technologies shares last traded at $0.98, with a volume of 163,592 shares traded.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of Palatin Technologies in a report on Tuesday, October 1st.

Palatin Technologies Price Performance

The firm has a market cap of $19.16 million, a price-to-earnings ratio of -0.47 and a beta of 0.99.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) EPS for the quarter. On average, equities analysts forecast that Palatin Technologies, Inc. will post -2.03 earnings per share for the current year.

Hedge Funds Weigh In On Palatin Technologies

A hedge fund recently bought a new stake in Palatin Technologies stock. XTX Topco Ltd purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,631 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned about 0.08% of Palatin Technologies as of its most recent SEC filing. 11.50% of the stock is owned by institutional investors and hedge funds.

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.