Palatin Technologies, Inc. (NYSEAMERICAN:PTN) released its earnings results on Monday. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), RTT News reports. The company had revenue of $26.94 million during the quarter, compared to analyst estimates of $28.00 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share.
Shares of Palatin Technologies (NYSEAMERICAN PTN) opened at $0.80 on Wednesday. Palatin Technologies has a 12-month low of $0.29 and a 12-month high of $0.90.
A number of analysts recently issued reports on PTN shares. Zacks Investment Research downgraded Palatin Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, July 29th. Canaccord Genuity set a $6.00 target price on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, September 10th. Finally, Roth Capital set a $2.00 target price on Palatin Technologies and gave the company a “buy” rating in a research report on Sunday, October 29th.
About Palatin Technologies
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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