Palatin Technologies (PTN) Shares Gap Up to $1.42

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) gapped up prior to trading on Tuesday . The stock had previously closed at $1.35, but opened at $1.42. Palatin Technologies shares last traded at $1.43, with a volume of 50787 shares changing hands.

Several research analysts recently issued reports on PTN shares. TheStreet downgraded shares of Palatin Technologies from a “c-” rating to a “d” rating in a research report on Tuesday, February 19th. LADENBURG THALM/SH SH set a $3.00 price target on shares of Palatin Technologies and gave the stock a “buy” rating in a research report on Thursday, May 23rd. HC Wainwright upped their price target on shares of Palatin Technologies from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Friday, February 15th.

Palatin Technologies (NYSEAMERICAN:PTN) last issued its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01).

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its position in Palatin Technologies by 1.0% during the 4th quarter. Northern Trust Corp now owns 2,300,865 shares of the biopharmaceutical company’s stock worth $1,629,000 after buying an additional 23,680 shares in the last quarter. Virtu Financial LLC lifted its position in Palatin Technologies by 47.9% during the 1st quarter. Virtu Financial LLC now owns 105,064 shares of the biopharmaceutical company’s stock valued at $103,000 after purchasing an additional 34,036 shares during the period. Vanguard Group Inc lifted its position in Palatin Technologies by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 8,902,947 shares of the biopharmaceutical company’s stock valued at $8,880,000 after purchasing an additional 39,788 shares during the period. BNP Paribas Arbitrage SA acquired a new position in Palatin Technologies during the 1st quarter valued at about $42,000. Finally, State of Wisconsin Investment Board lifted its position in Palatin Technologies by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 265,900 shares of the biopharmaceutical company’s stock valued at $261,000 after purchasing an additional 60,900 shares during the period.

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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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