Palatin Technologies (NYSEAMERICAN:PTN) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.06 earnings per share (EPS) for the quarter, Bloomberg Earnings reports. Palatin Technologies had a return on equity of 155.80% and a net margin of 28.55%. During the same quarter last year, the company earned ($0.02) earnings per share.

NYSEAMERICAN PTN opened at $1.03 on Friday. Palatin Technologies has a 1-year low of $0.56 and a 1-year high of $1.59.

Several brokerages have issued reports on PTN. HC Wainwright set a $5.00 price target on Palatin Technologies and gave the stock a “buy” rating in a research note on Thursday. LADENBURG THALM/SH SH began coverage on Palatin Technologies in a research note on Wednesday, June 27th. They set a “buy” rating and a $3.00 price target for the company. Finally, Zacks Investment Research lowered Palatin Technologies from a “hold” rating to a “sell” rating in a research note on Friday, June 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $3.35.

A hedge fund recently raised its stake in Palatin Technologies stock. Bank of New York Mellon Corp increased its stake in Palatin Technologies, Inc. (NYSEAMERICAN:PTN) by 263.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 512,132 shares of the biopharmaceutical company’s stock after acquiring an additional 371,276 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Palatin Technologies worth $497,000 as of its most recent SEC filing.

About Palatin Technologies

Palatin Technologies, Inc, a biopharmaceutical company, develops targeted, receptor-specific peptide therapeutics for the treatment of various diseases in the United States. The company's principal product is Bremelanotide, an as needed subcutaneous injectable peptide melanocortin receptor agonist, which is in the Phase III clinical studies for the treatment of premenopausal women with hypoactive sexual desire disorder (HSDD).

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Earnings History for Palatin Technologies (NYSEAMERICAN:PTN)

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