Palatin Technologies Inc. (AMEX: PTN) is 5.06% higher on its value in year-to-date trading and has touched a low of $0.35 and a high of $0.89 in the current 52-week trading range. The PTN stock was last observed hovering at around $0.71 in the last trading session, with the day’s gains setting it 0.05% off its average median price target of $2.00 for the next 12 months. It is also 74.67% off the consensus price target high of $3.00 offered by 3 analysts, but current levels are 62.0% higher than the price target low of $2.00 for the same period.
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Currently trading at $0.76, the stock is 22.32% and 51.29% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.62 million and changing 6.80% at the moment leaves the stock 50.40% off its SMA200. PTN registered -0.88% loss for a year compared to 6-month loss of 39.82%. The firm has a 50-day simple moving average (SMA 50) of $0.5503 and a 200-day simple moving average (SMA200) of $0.5089.
The stock witnessed a 67.02% gain in the last 1 month and extending the period to 3 months gives it a 56.04%, and is 0.27% up 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 4.91% over the week and 11.02% over the month.
Palatin Technologies Inc. (PTN) has around 20 employees, a market worth around $166.42M and $-0.27M in sales. Distance from 52-week low is 113.61% and -15.27% from its 52-week high. The company has generated returns on investments over the last 12 months (-29.40%).
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 05/18/2021 and quarterly earnings per share for the current quarter are estimated at -$0.02 with sales reaching $300k over the same period.The EPS is expected to shrink by -158.00% this year, but quarterly earnings will post 2,315.30% year-over-year.
Palatin Technologies Inc. (PTN) Top Institutional Holders
89 institutions hold shares in Palatin Technologies Inc. (PTN), with 8.76M shares held by insiders accounting for 3.81% while institutional investors hold 15.81% of the company’s shares. The shares outstanding are 236.35M, and float is at 221.15M with Short Float at 3.31%. Institutions hold 15.21% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 9.47 million shares valued at $4.48 million. The investor’s holdings represent 4.12% of the PTN Shares outstanding. As of Sep 29, 2020, the second largest holder is Acadian Asset Management with 7.11 million shares valued at $3.36 million to account for 3.09% of the shares outstanding. The other top investors are Blackrock Inc. which holds 3.73 million shares representing 1.62% and valued at over $1.76 million, while Arrowstreet Capital, Limited Partnership holds 1.10% of the shares totaling 2.52 million with a market value of $1.19 million.
Palatin Technologies Inc. (PTN) Insider Activity
A total of 6 insider transactions have happened at Palatin Technologies Inc. (PTN) in the last six months, with sales accounting for 5 and purchases happening 1 times. The most recent transaction is an insider purchase by DEVEER ROBERT K JR, the company’s Director. SEC filings show that DEVEER ROBERT K JR bought 54,000 shares of the company’s common stock on Nov 18 at a price of $0.41 per share for a total of $22140.0. Following the purchase, the insider now owns 0.73 million shares.
Palatin Technologies Inc. disclosed in a document filed with the SEC on Sep 29 that DEVEER ROBERT K JR (Director) sold a total of 54,000 shares of the company’s common stock. The trade occurred on Sep 29 and was made at $0.46 per share for $24980.0. Following the transaction, the insider now directly holds 0.64 million shares of the PTN stock.
Palatin Technologies Inc. (PTN): Who are the competitors?
The company’s main competitors (and peers) include AstraZeneca PLC (AZN) that is trading 1.25% up over the past 12 months. Ligand Pharmaceuticals Incorporated (LGND) is 22.42% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.05% from the last report on Nov 29, 2020 to stand at a total of 7.73 million short shares sold with a short interest ratio of 1.2.