Palatin Technologies, Inc. (PTN) Given a $6.00 Price Target at Canaccord Genuity

Canaccord Genuity set a $6.00 price target on Palatin Technologies, Inc. (NYSEAMERICAN:PTN) in a research report sent to investors on Monday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Palatin Technologies from a buy rating to a hold rating in a research report on Saturday, October 7th. Roth Capital set a $2.00 price target on Palatin Technologies and gave the stock a buy rating in a research report on Sunday, October 29th.

Palatin Technologies (NYSEAMERICAN PTN) traded up $0.06 during trading on Monday, reaching $0.84. The company’s stock had a trading volume of 2,202,500 shares, compared to its average volume of 1,927,000. Palatin Technologies has a one year low of $0.29 and a one year high of $0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Monday, November 13th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $26.94 million during the quarter, compared to the consensus estimate of $28.00 million. During the same period in the prior year, the company posted ($0.08) EPS.

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A hedge fund recently raised its stake in Palatin Technologies stock. Bank of New York Mellon Corp boosted its stake in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 500.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 151,473 shares of the biopharmaceutical company’s stock after purchasing an additional 126,236 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of Palatin Technologies worth $101,000 at the end of the most recent quarter.

About Palatin Technologies

Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.

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