Palatin Technologies Inc. (PTN) 2020 Stock Forecast: Bullish Outlook with 81.67% Upside

Palatin Technologies Inc. (AMEX: PTN) is -29.16% lower on its value in year-to-date trading and has touched a low of $0.35 and a high of $1.78 in the current 52-week trading range. The PTN stock was last observed hovering at around $0.64 in the last trading session, with the day’s loss setting it -0.09% off its average median price target of $2.00 for the next 12 months. It is also 81.67% off the consensus price target high of $3.00 offered by 3 analysts, but current levels are 63.33% higher than the price target low of $1.50 for the same period.


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Currently trading at $0.55, the stock is -4.08% and 9.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.41 million and changing -12.88% at the moment leaves the stock -16.27% off its SMA200. PTN registered -49.63% loss for a year compared to 6-month loss of -29.31%. The firm has a 50-day simple moving average (SMA 50) of $0.5280 and a 200-day simple moving average (SMA200) of $0.5718.

The stock witnessed a 15.61% gain in the last 1 month and extending the period to 3 months gives it a 24.77%, and is -2.70% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 14.20% over the week and 10.89% over the month.

Palatin Technologies Inc. (PTN) has around 18 employees, a market worth around $132.74M and $60.40M in sales. Current P/E ratio is 3.85. Profit margin for the company is 61.40%. Distance from 52-week low is 56.08% and -68.87% from its 52-week high. The company has generated returns on investments over the last 12 months (35.50%).

Palatin Technologies Inc. (PTN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Palatin Technologies Inc. (PTN) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.30, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Palatin Technologies Inc. is expected to release its quarterly report on 09/10/2020 and quarterly earnings per share for the current quarter are estimated at -$0.02.The EPS is expected to grow by 40.90% this year, but quarterly earnings will post -99.80% year-over-year.

Palatin Technologies Inc. (PTN) Top Institutional Holders

The shares outstanding are 235.32M, and float is at 221.62M with Short Float at 7.87%.

Palatin Technologies Inc. (PTN) Insider Activity

A total of 9 insider transactions have happened at Palatin Technologies Inc. (PTN) in the last six months, with sales accounting for 0 and purchases happening 9 times. The most recent transaction is an insider purchase by Hull Joseph Stanley, the company’s Director. SEC filings show that Hull Joseph Stanley bought 800 shares of the company’s common stock on Aug 05 at a price of $0.78 per share for a total of $627.0. Following the purchase, the insider now owns 0.52 million shares.

Palatin Technologies Inc. disclosed in a document filed with the SEC on Aug 02 that SPANA CARL (President and CEO) bought a total of 20,000 shares of the company’s common stock. The trade occurred on Aug 02 and was made at $0.86 per share for $17260.0. Following the transaction, the insider now directly holds 5.99 million shares of the PTN stock.

Still, SEC filings show that on Aug 01, WILLS STEPHEN T (Executive VP and CFO/COO) acquired 50,000 shares at an average price of $0.87 for $43250.0. The insider now directly holds 5,314,239 shares of Palatin Technologies Inc. (PTN).

Palatin Technologies Inc. (PTN): Who are the competitors?

The company’s main competitors (and peers) include AstraZeneca PLC (AZN) that is trading 25.92% up over the past 12 months. Ligand Pharmaceuticals Incorporated (LGND) is 0.42% up on the 1-year trading charts. Short interest in the company’s stock has risen 6.31% from the last report on Apr 29, 2020 to stand at a total of 16.34 million short shares sold with a short interest ratio of 10.47.

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