Palatin Technologies, Inc. (NYSEAMERICAN:PTN)’s stock price shot up 5.8% during trading on Friday . The stock traded as high as $0.93 and last traded at $0.93, 1,444,252 shares traded hands during mid-day trading. A decline of 34% from the average session volume of 2,181,771 shares. The stock had previously closed at $0.88.
Several research firms recently commented on PTN. HC Wainwright set a $8.00 price target on Palatin Technologies and gave the stock a “buy” rating in a research note on Monday, June 24th. LADENBURG THALM/SH SH set a $3.00 price target on Palatin Technologies and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, Zacks Investment Research upgraded Palatin Technologies from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research note on Wednesday, July 3rd.
In related news, insider Carl Spana bought 50,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $0.86 per share, with a total value of $43,000.00. Following the completion of the acquisition, the insider now owns 5,953,852 shares of the company’s stock, valued at $5,120,312.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 73,380 shares of company stock valued at $63,043 over the last ninety days.
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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