Palatin Technologies (NYSEAMERICAN:PTN) Announces Earnings Results, Beats Expectations By $0.26 EPS

Palatin Technologies (NYSEAMERICAN:PTN) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.26, Fidelity Earnings reports. The firm had revenue of $60.27 million for the quarter.

PTN stock opened at $1.06 on Friday. Palatin Technologies has a 12-month low of $0.59 and a 12-month high of $1.78.

PTN has been the topic of a number of analyst reports. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. LADENBURG THALM/SH SH set a $3.00 price target on Palatin Technologies and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, HC Wainwright set a $8.00 price target on Palatin Technologies and gave the company a “buy” rating in a research report on Monday, June 24th.

In other news, major shareholder Stephen T. Wills acquired 1,500 shares of Palatin Technologies stock in a transaction on Wednesday, July 31st. The stock was acquired at an average cost of $25.31 per share, with a total value of $37,965.00. Also, insider Carl Spana acquired 50,000 shares of Palatin Technologies stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $0.86 per share, with a total value of $43,000.00. Following the completion of the acquisition, the insider now owns 5,953,852 shares of the company’s stock, valued at approximately $5,120,312.72. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 74,880 shares of company stock valued at $101,008.

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 principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.

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Earnings History for Palatin Technologies (NYSEAMERICAN:PTN)

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