Palatin Technologies, Inc. (NASDAQ:PTN)’s stock price rose 3% on Friday . The company traded as high as $1.04 and last traded at $1.03, approximately 50,600 shares traded hands during mid-day trading. A decline of 98% from the average daily volume of 2,074,145 shares. The stock had previously closed at $1.00.
Separately, BidaskClub lowered shares of Palatin Technologies from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 21st.
The stock’s 50 day moving average price is $0.91 and its two-hundred day moving average price is $1.09.
Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific peptide therapeutics for the treatment of various diseases in the United States. The company's principal product is Bremelanotide, an as needed subcutaneous injectable peptide melanocortin receptor agonist, which is in the Phase III clinical studies for the treatment of premenopausal women with hypoactive sexual desire disorder (HSDD).
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