Palatin Technologies (PTN) Receives “Buy” Rating from LADENBURG THALM/SH SH

LADENBURG THALM/SH SH reissued their buy rating on shares of Palatin Technologies (NYSEAMERICAN:PTN) in a research report released on Sunday morning, AnalystRatings.com reports. The brokerage currently has a $2.75 price objective on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on PTN. Zacks Investment Research upgraded shares of Palatin Technologies from a hold rating to a buy rating and set a $0.75 price objective for the company in a report on Friday, February 15th. TheStreet cut shares of Palatin Technologies from a c- rating to a d rating in a report on Tuesday, February 19th. Finally, HC Wainwright increased their price objective on shares of Palatin Technologies from $5.00 to $6.00 and gave the company a buy rating in a report on Thursday, May 9th.

Shares of NYSEAMERICAN:PTN opened at $1.55 on Friday. Palatin Technologies has a fifty-two week low of $0.59 and a fifty-two week high of $1.59.

Palatin Technologies (NYSEAMERICAN:PTN) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01).

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Palatin Technologies by 19.5% during the third quarter. BlackRock Inc. now owns 12,752,945 shares of the biopharmaceutical company’s stock valued at $12,722,000 after purchasing an additional 2,083,615 shares during the last quarter. Vanguard Group Inc lifted its stake in Palatin Technologies by 0.4% during the third quarter. Vanguard Group Inc now owns 8,902,947 shares of the biopharmaceutical company’s stock valued at $8,880,000 after purchasing an additional 39,788 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Palatin Technologies by 10.1% during the first quarter. Acadian Asset Management LLC now owns 2,639,999 shares of the biopharmaceutical company’s stock valued at $2,587,000 after purchasing an additional 243,184 shares during the last quarter. Northern Trust Corp lifted its stake in Palatin Technologies by 1.0% during the fourth quarter. Northern Trust Corp now owns 2,300,865 shares of the biopharmaceutical company’s stock valued at $1,629,000 after purchasing an additional 23,680 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Palatin Technologies by 30.5% during the fourth quarter. Bank of New York Mellon Corp now owns 700,936 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 163,633 shares during the last quarter.

Palatin Technologies Company Profile

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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