Palatin Technologies (PTN) Earning Somewhat Positive Press Coverage, Analysis Finds

Press coverage about Palatin Technologies (NYSE:PTN) has trended somewhat positive recently, Accern reports. The research group identifies positive and negative news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Palatin Technologies earned a coverage optimism score of 0.03 on Accern’s scale. Accern also assigned news articles about the biopharmaceutical company an impact score of 46.8056626722423 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.

Palatin Technologies (PTN) opened at 0.4116 on Friday. The company’s market cap is $62.89 million. Palatin Technologies has a 52-week low of $0.29 and a 52-week high of $0.90. The company’s 50 day moving average price is $0.42 and its 200 day moving average price is $0.39.

Palatin Technologies (NYSE:PTN) last posted its quarterly earnings results on Thursday, May 18th. The biopharmaceutical company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.12. The business had revenue of $10.82 million for the quarter, compared to analyst estimates of $60 million. During the same period in the previous year, the company earned ($0.01) earnings per share. Equities research analysts anticipate that Palatin Technologies will post ($0.14) EPS for the current fiscal year.

A number of analysts have commented on the company. 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 stock a “buy” rating in a research report on Tuesday, May 16th.

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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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