Stock Technical Report on Palatin Technologies Inc (NYSEMKT:PTN)

Palatin Technologies Inc (NYSEMKT:PTN) (TREND ANALYSIS) shares were traded with a volume more than nine times higher than the usual volume. The stock closed last trading session at $1.15, up by 15%, with a volume of 12,038,098 shares against an average volume for the last 3 months of 802,188.

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Palatin Technologies Inc (NYSEMKT:PTN) stock is currently trading 27.22% below its 52-week-high, 94.92% above its 52-week-low. The 1-year stock price history is in the range of $0.59 – $1.58. Palatin Technologies Inc (PTN) has a price to book ratio of 1.76 versus Healthcare sector average of 26.53. PTN stock price has outperformed the S&P 500 by 55.5%. The Biotechnology company is currently valued at $0.05 billion and its share price closed the last trading session at $1.15. The stock has a 50-day moving average of $0.93 and a 200-day moving average of $0.87.

Palatin Technologies Inc (PTN) current short interest stands at 0.99 million shares. It has increased by 799% from the same period of last month. Around 3% of the company’s shares, which are float, are short sold. With a 10-days average volume of 7.68 million shares, the number of days required to cover the short positions stand at 0.2 day.

PTN reported last quarter earnings on May 13. The Biotechnology company announced earnings per share of $-0.07 against a consensus Street estimate of $-0.04, missing estimate by $0.03. This corresponds to an increase of $0.01 compared to the same quarter of the previous fiscal year.

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There are currently four analysts that cover Palatin Technologies Inc stock. Of those four, four have a Buy rating. On a consensus basis this yields to a Buy rating. The consensus target price stands at $4.38.

A recent analyst activity consisted of Canaccord Genuity reiterating their Buy stance on June 5. Canaccord Genuity increased their price target on PTN from $4 to $6. This corresponds to a 421.74% upside from the last closing price. On the date of report, the stock closed at $1.

Company profile

Palatin Technologies, Inc. is a biopharmaceutical company. The Company researches products for the treatment of male and female sexual disfunction, congestive heart failure, obesity, and cachexia.

Stock Technical Report on Palatin Technologies Inc (NYSEMKT:PTN) was last modified: June 9th, 2015 by Eric Hanson