Palatin Technologies (NYSEAMERICAN:PTN) has been given a $8.00 price target by investment analysts at HC Wainwright in a research note issued to investors on Friday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. LADENBURG THALM/SH SH set a $3.00 target price on Palatin Technologies and gave the stock a “buy” rating in a research note on Thursday, May 23rd.
Shares of NYSEAMERICAN:PTN traded up $0.06 on Friday, reaching $1.06. The company had a trading volume of 2,573,095 shares, compared to its average volume of 2,077,939. Palatin Technologies has a 52-week low of $0.59 and a 52-week high of $1.78.
In other news, insider Carl Spana purchased 50,000 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $0.86 per share, with a total value of $43,000.00. Following the transaction, the insider now owns 5,953,852 shares in the company, valued at approximately $5,120,312.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Stephen T. Wills purchased 1,500 shares of the stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $25.31 per share, with a total value of $37,965.00. In the last ninety days, insiders have acquired 74,880 shares of company stock valued at $101,008.
Hedge funds have recently modified their holdings of the company. Community Trust & Investment Co. acquired a new position in shares of Palatin Technologies in the 2nd quarter valued at about $26,000. Cubist Systematic Strategies LLC acquired a new position in shares of Palatin Technologies in the 2nd quarter valued at about $34,000. BNP Paribas Arbitrage SA acquired a new position in shares of Palatin Technologies in the 1st quarter valued at about $42,000. Commonwealth Equity Services LLC lifted its holdings in shares of Palatin Technologies by 207.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 52,239 shares of the biopharmaceutical company’s stock valued at $60,000 after buying an additional 35,264 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of Palatin Technologies in the 2nd quarter valued at about $78,000.
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 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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