Palatin Technologies (PTN) Getting Somewhat Positive Press Coverage, Report Shows

News stories about Palatin Technologies (NYSE:PTN) have trended somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Palatin Technologies earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave news coverage about the biopharmaceutical company an impact score of 46.1751642327895 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Shares of Palatin Technologies (NYSE:PTN) traded up 0.87% during mid-day trading on Tuesday, hitting $0.75. The company had a trading volume of 755,491 shares. The stock’s market cap is $134.28 million. Palatin Technologies has a 52-week low of $0.29 and a 52-week high of $0.90. The stock’s 50-day moving average is $0.71 and its 200-day moving average is $0.49.

Palatin Technologies (NYSE:PTN) last announced its quarterly earnings data on Monday, September 25th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The firm had revenue of $33.90 million during the quarter, compared to the consensus estimate of $18.54 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. Equities analysts forecast that Palatin Technologies will post ($0.35) earnings per share for the current year.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Palatin Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 7th. Roth Capital set a $2.00 price objective on Palatin Technologies and gave the stock a “buy” rating in a research report on Sunday. Finally, Canaccord Genuity set a $6.00 price objective on Palatin Technologies and gave the stock a “buy” rating in a research report on Sunday, September 10th.

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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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