Palatin Technologies (NYSEAMERICAN:PTN) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Palatin Technologies, Inc. (NYSEAMERICAN:PTN) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $1.04. Palatin Technologies shares last traded at $0.95, with a volume of 201,186 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued a $17.00 price target on shares of Palatin Technologies in a research note on Thursday, December 19th.

Palatin Technologies Stock Up 0.5 %

The company has a market cap of $18.67 million, a PE ratio of -0.48 and a beta of 0.90.

Institutional Investors Weigh In On Palatin Technologies

Several large investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new stake in Palatin Technologies during the 2nd quarter valued at approximately $3,272,000. HB Wealth Management LLC raised its stake in shares of Palatin Technologies by 86.3% during the fourth quarter. HB Wealth Management LLC now owns 110,500 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 51,200 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Palatin Technologies during the third quarter worth $51,000. Finally, XTX Topco Ltd grew its position in Palatin Technologies by 98.6% in the 3rd quarter. XTX Topco Ltd now owns 29,063 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 14,432 shares during the last quarter. 11.50% of the stock is owned by institutional investors and hedge funds.

About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.