Palatin Technologies (NYSEAMERICAN:PTN) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Palatin Technologies (NYSEAMERICAN:PTN) released its quarterly earnings data on Wednesday. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03), RTT News reports. During the same quarter last year, the company posted ($0.03) earnings per share.

Shares of PTN stock traded down $0.00 on Friday, hitting $0.44. 2,389 shares of the stock were exchanged, compared to its average volume of 3,060,547. The stock has a market capitalization of $101.22 million, a P/E ratio of -4.03 and a beta of 1.17. Palatin Technologies has a fifty-two week low of $0.38 and a fifty-two week high of $1.30.

A number of brokerages have recently commented on PTN. Zacks Investment Research cut Palatin Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, July 21st. LADENBURG THALM/SH SH reissued a “buy” rating and set a $2.00 target price on shares of Palatin Technologies in a research note on Thursday.

An institutional investor recently bought a new position in Palatin Technologies stock. Citadel Advisors LLC purchased a new position in shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 109,567 shares of the biopharmaceutical company’s stock, valued at approximately $67,000. 9.85% of the stock is owned by hedge funds and other institutional investors.

About Palatin Technologies

Palatin Technologies, Inc is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, a peptide melanocortin receptor 4 agonist for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD).

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Earnings History for Palatin Technologies (NYSEAMERICAN:PTN)

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