Palatin Technologies (PTN) Releases Earnings Results, Meets Expectations

Palatin Technologies (NYSEAMERICAN:PTN) announced its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.02), MarketWatch Earnings reports. During the same period in the previous year, the company earned $0.01 earnings per share.

Palatin Technologies stock opened at $0.77 on Wednesday. Palatin Technologies has a 12-month low of $0.59 and a 12-month high of $1.59.

A number of hedge funds have recently added to or reduced their stakes in the business. Citadel Advisors LLC grew its stake in Palatin Technologies by 1,633.9% in the 3rd quarter. Citadel Advisors LLC now owns 248,604 shares of the biopharmaceutical company’s stock valued at $248,000 after buying an additional 234,266 shares during the last quarter. Rhumbline Advisers grew its position in shares of Palatin Technologies by 48.9% during 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 during the period. Schwab Charles Investment Management Inc. acquired a new position in Palatin Technologies during the second quarter valued at approximately $355,000. AQR Capital Management LLC lifted its stake in Palatin Technologies by 2,022.6% in the third quarter. AQR Capital Management LLC now owns 383,749 shares of the biopharmaceutical company’s stock valued at $383,000 after buying an additional 365,670 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Palatin Technologies by 40.6% in the third quarter. TIAA CREF Investment Management LLC now owns 422,994 shares of the biopharmaceutical company’s stock worth $422,000 after purchasing an additional 122,126 shares in the last quarter.

PTN has been the subject of a number of analyst reports. Zacks Investment Research lowered Palatin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Palatin Technologies in a report on Friday, January 11th.

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About Palatin Technologies

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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Earnings History for Palatin Technologies (NYSEAMERICAN:PTN)

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