Canaccord Genuity Reiterates $6.00 Price Target for Palatin Technologies, Inc. (PTN)

Canaccord Genuity set a $6.00 target price on Palatin Technologies, Inc. (NYSE:PTN) in a report issued on Sunday morning. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research downgraded shares of Palatin Technologies from a hold rating to a sell rating in a report on Saturday, July 29th.

Shares of Palatin Technologies (PTN) opened at 0.60 on Friday. The stock’s 50 day moving average is $0.43 and its 200-day moving average is $0.39. The stock’s market cap is $91.68 million. Palatin Technologies has a one year low of $0.29 and a one year high of $0.90.

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An institutional investor recently raised its position in Palatin Technologies stock. Sabby Management LLC increased its holdings in Palatin Technologies, Inc. (NYSE:PTN) by 21.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,025,729 shares of the biopharmaceutical company’s stock after buying an additional 353,156 shares during the quarter. Sabby Management LLC owned about 1.47% of Palatin Technologies worth $663,000 at the end of the most recent reporting period.

Palatin Technologies Company Profile

Palatin Technologies, Inc is a biopharmaceutical company. The Company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems.

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