Palatin Technologies (NYSEAMERICAN:PTN) Shares Cross Above 200 Day Moving Average of $0.00

Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.95. Palatin Technologies shares last traded at $1.88, with a volume of 180,638 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price target on Palatin Technologies from $70.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th.

Palatin Technologies Trading Down 2.6 %

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.36). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. The business had revenue of $2.03 million for the quarter, compared to analysts’ expectations of $2.28 million. During the same period in the previous year, the business posted ($0.13) earnings per share. As a group, equities research analysts predict that Palatin Technologies, Inc. will post -2.36 EPS for the current year.

Hedge Funds Weigh In On Palatin Technologies

A number of institutional investors have recently made changes to their positions in PTN. Northern Trust Corp raised its stake in Palatin Technologies by 52.8% in the fourth quarter. Northern Trust Corp now owns 25,097 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 8,671 shares in the last quarter. CIBC Asset Management Inc bought a new position in Palatin Technologies in the 1st quarter worth about $41,000. Dimensional Fund Advisors LP bought a new position in shares of Palatin Technologies in the third quarter worth approximately $135,000. UBS Group AG lifted its position in Palatin Technologies by 115,168.0% in the 3rd quarter. UBS Group AG now owns 28,817 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 28,792 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Palatin Technologies in the 1st quarter worth about $103,000. Institutional investors own 11.50% of the company’s stock.

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.