Palatin Technologies (NYSEAMERICAN:PTN) Releases Earnings Results, Misses Estimates By $0.03 EPS

Palatin Technologies (NYSEAMERICAN:PTN) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03), RTT News reports. During the same quarter last year, the firm earned ($0.03) EPS.

NYSEAMERICAN:PTN opened at $0.45 on Friday. The firm has a market capitalization of $103.75 million, a P/E ratio of -4.10 and a beta of 1.17. Palatin Technologies has a twelve month low of $0.38 and a twelve month high of $1.30.

A number of equities research analysts recently weighed in on the stock. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $2.00 target price on shares of Palatin Technologies in a research note on Thursday. Zacks Investment Research downgraded shares of Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 21st.

An institutional investor recently bought a new position in Palatin Technologies stock. Citadel Advisors LLC bought a new stake in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 109,567 shares of the biopharmaceutical company’s stock, valued at approximately $67,000. 9.85% of the stock is owned by hedge funds and other institutional investors.

Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, a peptide melanocortin receptor 4 agonist for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD).

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Earnings History for Palatin Technologies (NYSEAMERICAN:PTN)

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