Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) dropped 5.1% during trading on Thursday . The company traded as low as $1.29 and last traded at $1.31. Approximately 2,159,372 shares changed hands during trading, an increase of 61% from the average daily volume of 1,344,297 shares. The stock had previously closed at $1.38.
A number of analysts recently commented on the stock. Zacks Investment Research upgraded shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Wednesday, April 17th. LADENBURG THALM/SH SH restated a “buy” rating and set a $2.75 price target on shares of Palatin Technologies in a report on Sunday, May 12th. HC Wainwright set a $6.00 price target on shares of Palatin Technologies and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, TheStreet lowered shares of Palatin Technologies from a “c-” rating to a “d” rating in a report on Tuesday, February 19th.
Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01).
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Palatin Technologies Company Profile (NYSEAMERICAN:PTN)
Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific therapeutics for the treatment of various diseases in the United States. The company's principal product is Vyleesi, an on demand subcutaneous injectable product that has completed Phase III clinical studies for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder.
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