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

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) has been assigned a $6.00 target price by equities researchers at Canaccord Genuity in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock.

PTN has been the topic of a number of other reports. Zacks Investment Research cut Palatin Technologies from a “buy” rating to a “hold” rating in a report on Saturday, October 7th. Roth Capital set a $2.00 target price on Palatin Technologies and gave the stock a “buy” rating in a report on Sunday, October 29th.

Palatin Technologies (NYSEAMERICAN:PTN) opened at $0.80 on Monday. Palatin Technologies has a twelve month low of $0.29 and a twelve month high of $0.90.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its quarterly earnings results on Monday, November 13th. The biopharmaceutical company reported $0.05 earnings per share (EPS) 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 analysts’ expectations of $28.00 million. During the same quarter last year, the firm earned ($0.08) EPS.

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An institutional investor recently raised its position in Palatin Technologies stock. Bank of New York Mellon Corp increased its position in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 500.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Palatin Technologies Company Profile

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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