Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Palatin Technologies (PTN – Research Report) today and set a price target of $50.00. The company’s shares closed yesterday at $4.31.
Higgins covers the Healthcare sector, focusing on stocks such as Palatin Technologies, SCYNEXIS, and Eiger Biopharmaceuticals. According to TipRanks, Higgins has an average return of 4.4% and a 30.58% success rate on recommended stocks.
Palatin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $60.00, representing a 1,292.11% upside. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $70.00 price target.
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Based on Palatin Technologies’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $770.74 thousand and a GAAP net loss of $12.77 million. In comparison, last year the company earned a revenue of $175.19 thousand and had a GAAP net loss of $13.93 million
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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.
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