Palatin Technologies Reiterated With A Buy At Roth Capital
In a research note issued this morning, Roth Capital reiterated coverage with a “Buy” rating on Palatin Technologies, Inc. (PTN) and a price target of $6.00 a share.
Roth’s analyst Dr. Joseph Pantginis believes that Palatin represents a significant value proposition based on 1) the promise of BMT in FSD which could address a large unmet medical need 2) imminent partnering potential in Europe and strong partnering potential in US 3) important validation in hand with a large partnership with AstraZeneca for obesity and 4) strong pipeline growth potential.
Palatin previously announced that it has been granted a patent allowance for composition of matter on next generation melanocortin receptor-specific peptides for sexual dysfunction, obesity, metabolic syndrome, and other indications.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, Dr. Joseph Pantginis, who covers PTN, has a one-year average return of 1.5% and a 44% success rate.