Palatin Technologies (NYSEAMERICAN:PTN) PT Set at $6.00 by Canaccord Genuity

Palatin Technologies (NYSEAMERICAN:PTN) received a $6.00 price objective from equities researchers at Canaccord Genuity in a research note issued to investors on Monday, November 13th. The firm presently has a “buy” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Palatin Technologies from a “buy” rating to a “strong sell” rating in a research note on Wednesday, November 1st. Roth Capital set a $2.00 price target on shares of Palatin Technologies and gave the company a “buy” rating in a research note on Sunday, October 29th.

Shares of Palatin Technologies (PTN) traded up $0.01 during trading on Monday, reaching $0.94. 1,480,000 shares of the company were exchanged, compared to its average volume of 1,790,000. Palatin Technologies has a 12-month low of $0.29 and a 12-month high of $1.05.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $28.00 million. During the same period in the prior year, the firm posted ($0.08) earnings per share.

A hedge fund recently raised its stake in Palatin Technologies stock. Bank of New York Mellon Corp raised its holdings in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 500.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,473 shares of the biopharmaceutical company’s stock after buying an additional 126,236 shares during the period. Bank of New York Mellon Corp owned about 0.08% of Palatin Technologies worth $101,000 as of its most recent SEC filing.

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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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