Palatine Technologies, Inc. (NYSEAMERICAN:PTN – Get Rating) – Investment analysts at HC Wainwright raised their Q3 2023 earnings estimates for Palatin Technologies in a note issued to investors on Thursday, February 16th. HC Wainwright analyst J. Pantginis now forecasts that the biopharmaceutical company will post earnings of ($0.59) per share for the quarter, up from their prior forecast of ($0.79). The consensus estimate for Palatin Technologies’ current full-year earnings is ($2.62) per share. HC Wainwright also issued estimates for Palatin Technologies’ Q4 2023 earnings at ($0.60) EPS, FY2023 earnings at ($2.15) EPS and FY2024 earnings at ($2.33) EPS.
Palatin Technologies Stock Up 7.3 %
Shares of NYSEAMERICAN:PTN opened at $3.10 on Monday. Palatin Technologies has a 52 week low of $2.14 and a 52 week high of $13.00. The company has a quick ratio of 1.60, a current ratio of 1.65 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $28.92 million, a price-to-earnings ratio of -0.78 and a beta of 0.96.
Institutional Trading of Palatine Technologies
A number of large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP bought a new stake in shares of Palatin Technologies during the 3rd quarter valued at approximately $135,000. Millennium Management LLC acquired a new position in shares of Palatin Technologies during the 4th quarter valued at $118,000. Vanguard Group Inc. lifted its position in shares of Palatin Technologies by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,559,564 shares of the biopharmaceutical company’s stock valued at $4,398,000 after acquiring an additional 48,812 shares during the period. State Street Corp increased its stake in Palatin Technologies by 8.2% during the 1st quarter. State Street Corp now owns 757,455 shares of the biopharmaceutical company’s stock valued at $349,000 after purchasing an additional 57,440 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Palatin Technologies by 388.0% in the 2nd quarter. Renaissance Technologies LLC now owns 226,900 shares of the biopharmaceutical company’s stock worth $64,000 after acquiring an additional 180,400 shares in the last quarter. Institutional investors and hedge funds own 9.03% of the company’s stock.
About Palatine Technologies
Palatin Technologies, Inc is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin receptor system. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, which is used for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD).
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