Palatin Technologies (PTN) Sets New 52-Week High at $1.74

Shares of Palatin Technologies, Inc. (NYSEAMERICAN:PTN) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $1.74 and last traded at $1.64, with a volume of 5124401 shares trading hands. The stock had previously closed at $1.55.

Several analysts have recently issued reports on PTN shares. Zacks Investment Research raised shares of Palatin Technologies from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research note on Friday, February 15th. LADENBURG THALM/SH SH reissued a “buy” rating and set a $2.75 price objective on shares of Palatin Technologies in a research note on Sunday, May 12th. HC Wainwright boosted their price objective on shares of Palatin Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, TheStreet cut shares of Palatin Technologies from a “c-” rating to a “d” rating in a research note on Tuesday, February 19th.

Palatin Technologies (NYSEAMERICAN:PTN) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01).

Large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Palatin Technologies by 19.5% during the 3rd quarter. BlackRock Inc. now owns 12,752,945 shares of the biopharmaceutical company’s stock valued at $12,722,000 after acquiring an additional 2,083,615 shares in the last quarter. Vanguard Group Inc lifted its holdings in Palatin Technologies by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 8,902,947 shares of the biopharmaceutical company’s stock worth $8,880,000 after buying an additional 39,788 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Palatin Technologies by 30.5% in the 4th quarter. Bank of New York Mellon Corp now owns 700,936 shares of the biopharmaceutical company’s stock worth $496,000 after buying an additional 163,633 shares in the last quarter. Rhumbline Advisers lifted its holdings in Palatin Technologies by 48.9% in the 4th quarter. Rhumbline Advisers now owns 250,452 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 82,266 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in Palatin Technologies by 40.6% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 422,994 shares of the biopharmaceutical company’s stock worth $422,000 after buying an additional 122,126 shares in the last quarter.

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About Palatin Technologies (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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