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

Palatin Technologies (NYSEAMERICAN:PTN)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They presently have a $17.00 price objective on the biopharmaceutical company’s stock.

Palatin Technologies Trading Up 6.9 %

PTN traded up $0.06 during midday trading on Tuesday, hitting $0.93. The company had a trading volume of 184,500 shares, compared to its average volume of 349,784. Palatin Technologies has a 52 week low of $0.68 and a 52 week high of $5.65. The company has a market cap of $18.18 million, a P/E ratio of -0.47 and a beta of 0.90.

Institutional Investors Weigh In On Palatin Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd lifted 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 worth $26,000 after buying an additional 14,432 shares in the last quarter. Virtu Financial LLC purchased a new position in Palatin Technologies in the third quarter worth $51,000. Finally, HB Wealth Management LLC grew its stake 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 purchasing an additional 51,200 shares during the period. 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.