Palatin Technologies, Inc. (NYSEAMERICAN:PTN - Get Free Report) Director Robert K. Deveer, Jr. bought 6,000 shares of the business's stock in a transaction on Thursday, April 11th. The stock was purchased at an average price of $2.12 per share, with a total value of $12,720.00. Following the completion of the transaction, the director now directly owns 40,845 shares of the company's stock, valued at $86,591.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.
Palatin Technologies Stock Performance
Shares of NYSEAMERICAN:PTN opened at $1.97 on Friday. Palatin Technologies, Inc. has a 12-month low of $1.43 and a 12-month high of $5.65.
Palatin Technologies (NYSEAMERICAN:PTN - Get Free Report) last announced its earnings results on Wednesday, February 14th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.36). Palatin Technologies had a negative net margin of 445.12% and a negative return on equity of 583.06%. The firm had revenue of $2.03 million for the quarter, compared to analyst estimates of $2.28 million. During the same period last year, the firm earned ($0.13) earnings per share. Sell-side analysts forecast that Palatin Technologies, Inc. will post -2.36 earnings per share for the current fiscal year.
Institutional Trading of Palatin Technologies
The #1 Biotech Stock to Have on Your Radar in 2024…
From Huge Alerts | Ad
Revenues exploding, a $18.70 price target, and highly lucrative addressable markets make this one you cannot ignore!
Learn more about why Zack’s has a BULLISH nearly $19 price target on BSEM right now!
Large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new position in shares of Palatin Technologies in the first quarter worth $41,000. Dimensional Fund Advisors LP acquired a new position in shares of Palatin Technologies in the third quarter worth $135,000. Northern Trust Corp increased its stake in shares of Palatin Technologies by 52.8% in the fourth quarter. Northern Trust Corp now owns 25,097 shares of the biopharmaceutical company's stock worth $100,000 after acquiring an additional 8,671 shares during the last quarter. UBS Group AG increased its stake in shares of Palatin Technologies by 115,168.0% in the third quarter. UBS Group AG now owns 28,817 shares of the biopharmaceutical company's stock worth $44,000 after acquiring an additional 28,792 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Palatin Technologies in the first quarter worth $103,000. 11.50% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, HC Wainwright dropped their price target on Palatin Technologies from $70.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th.
Read Our Latest Analysis on Palatin Technologies
Palatin Technologies Company Profile
(
Get Free Report)
Palatin Technologies, Inc, a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
