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Ladenburg Thalmann & Co. Thinks Palatin Technologies’ Stock is Going to Recover

Ladenburg Thalmann & Co. analyst Michael Higgins maintained a Buy rating on Palatin Technologies (PTNResearch Report) today and set a price target of $2.00. The company’s shares closed last Wednesday at $0.44, close to its 52-week low of $0.38.

According to TipRanks.com, Higgins is a 4-star analyst with an average return of 6.7% and a 31.3% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Zynerba Pharmaceuticals, and Rhythm Pharmaceuticals.

Currently, the analyst consensus on Palatin Technologies is a Moderate Buy with an average price target of $2.00, implying a 344.4% upside from current levels. In a report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $2.00 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $1.30 and a one-year low of $0.38. Currently, Palatin Technologies has an average volume of 1.08M.

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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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