Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Crosses Above Two Hundred Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.00 and traded as high as $0.72. Palatin Technologies shares last traded at $0.71, with a volume of 29,137 shares changing hands.

PTN has been the topic of several research reports. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. HC Wainwright decreased their price target on Palatin Technologies from $7.50 to $2.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $3.00.

The firm’s 50 day simple moving average is $0.93.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Wednesday, November 13th. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02). The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $3.28 million. During the same quarter in the previous year, the business posted ($0.03) EPS.

Several large investors have recently made changes to their positions in PTN. California Public Employees Retirement System lifted its holdings in Palatin Technologies by 3.6% in the third quarter. California Public Employees Retirement System now owns 581,323 shares of the biopharmaceutical company’s stock worth $528,000 after buying an additional 20,251 shares during the period. Meeder Asset Management Inc. lifted its stake in Palatin Technologies by 594.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 58,799 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 50,326 shares in the last quarter. State Street Corp raised its position in shares of Palatin Technologies by 7.7% during the 3rd quarter. State Street Corp now owns 3,460,794 shares of the biopharmaceutical company’s stock valued at $3,145,000 after buying an additional 246,537 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Palatin Technologies during the 3rd quarter valued at about $422,000. Finally, BlackRock Inc. grew its holdings in Palatin Technologies by 18.6% during the 2nd quarter. BlackRock Inc. now owns 14,271,664 shares of the biopharmaceutical company’s stock valued at $16,553,000 after purchasing an additional 2,233,176 shares during the last quarter.

Palatin Technologies Company Profile (NYSEAMERICAN:PTN)

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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