Palatin Technologies (PTN) Receives a Buy from H.C. Wainwright
In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Palatin Technologies (PTN), with a price target of $2.00. The company’s shares closed last Monday at $0.60, close to its 52-week low of $0.59.
According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 14.8% and a 46.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Iovance Biotherapeutics.
Currently, the analyst consensus on Palatin Technologies is a Moderate Buy with an average price target of $2.50, representing a 303.2% upside. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $3.00 price target.
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Palatin Technologies’ market cap is currently $138.2M and has a P/E ratio of 3.79. The company has a Price to Book ratio of 1.51.
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Palatin Technologies, Inc. is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, a peptide melanocortin receptor 4 agonist for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD). The company was founded by Carl Spana and John K. A. Prendergast on November 21, 1986 and is headquartered in Cranbury, NJ.