BidaskClub cut shares of Palatin Technologies (NASDAQ:PTN) from a strong-buy rating to a buy rating in a report issued on Friday morning, BidAskClub reports.

Shares of PTN opened at $1.21 on Friday. The stock has a 50-day moving average of $1.38. Palatin Technologies has a 52 week low of $0.59 and a 52 week high of $1.78.

Palatin Technologies (NASDAQ:PTN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01).

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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