Palatin Technologies (NYSEAMERICAN:PTN) Upgraded by TheStreet to “C”

TheStreet upgraded shares of Palatin Technologies (NYSEAMERICAN:PTN) from a d+ rating to a c rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

Other equities analysts have also issued research reports about the stock. LADENBURG THALM/SH SH set a $3.00 target price on shares of Palatin Technologies and gave the stock a buy rating in a research report on Thursday, May 23rd. Canaccord Genuity set a $6.00 target price on shares of Palatin Technologies and gave the stock a buy rating in a research report on Friday, September 13th. HC Wainwright set a $8.00 target price on shares of Palatin Technologies and gave the stock a buy rating in a research report on Friday, September 13th. Finally, Zacks Investment Research lowered shares of Palatin Technologies from a buy rating to a hold rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $4.56.

Shares of PTN stock opened at $0.94 on Wednesday. Palatin Technologies has a 1 year low of $0.59 and a 1 year high of $1.78.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its earnings results on Thursday, September 12th. The biopharmaceutical company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.26. The company had revenue of $60.27 million for the quarter.

In other Palatin Technologies news, major shareholder Stephen T. Wills purchased 1,500 shares of the stock in a transaction on Wednesday, July 31st. The shares were purchased at an average price of $25.31 per share, with a total value of $37,965.00. Also, insider Carl Spana purchased 50,000 shares of the stock in a transaction on Friday, August 2nd. The stock was acquired at an average cost of $0.86 per share, for a total transaction of $43,000.00. Following the acquisition, the insider now directly owns 5,953,852 shares in the company, valued at $5,120,312.72. The disclosure for this purchase can be found here. Insiders acquired a total of 74,880 shares of company stock worth $101,008 in the last three months.

A number of institutional investors have recently made changes to their positions in the business. Community Trust & Investment Co. acquired a new stake in shares of Palatin Technologies in the 2nd quarter valued at $26,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Palatin Technologies in the 2nd quarter valued at $34,000. Commonwealth Equity Services LLC boosted its stake in shares of Palatin Technologies by 207.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 52,239 shares of the biopharmaceutical company’s stock valued at $60,000 after purchasing an additional 35,264 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Palatin Technologies in the 1st quarter valued at $42,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Palatin Technologies by 17.9% in the 2nd quarter. Wells Fargo & Company MN now owns 383,199 shares of the biopharmaceutical company’s stock valued at $444,000 after purchasing an additional 58,306 shares in the last quarter.

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 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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