Palatin Technologies (NYSEAMERICAN:PTN) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.95. Palatin Technologies shares last traded at $0.86, with a volume of 499,860 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of Palatin Technologies in a report on Monday, November 25th.

Palatin Technologies Trading Up 2.2 %

The company has a market capitalization of $17.11 million, a price-to-earnings ratio of -0.44 and a beta of 0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its earnings results on Tuesday, October 1st. The biopharmaceutical company reported ($0.51) earnings per share for the quarter. As a group, research analysts expect that Palatin Technologies, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PTN. XTX Topco Ltd boosted its holdings in shares of Palatin Technologies by 98.6% in the third 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 in the last quarter. Virtu Financial LLC acquired a new stake in Palatin Technologies in the third quarter worth approximately $51,000. Finally, Armistice Capital LLC bought a new position in Palatin Technologies during the 2nd quarter valued at $3,272,000. Institutional investors and hedge funds own 11.50% of the company’s stock.

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.