Palatin Technologies (PTN) : Zacks Investment Research ranks Palatin Technologies (PTN) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. The average broker rating of 2 research analysts is 1, which indicates as a Strong Buy.
Palatin Technologies (NYSEMKT:PTN): After opening at $0.55, the stock dipped to an intraday low of $0.54 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $0.55 and the buying power remained strong till the end. The stock closed at $0.5411 for the day, a gain of 0.20% for the day session. The total traded volume was 541,777. The stocks close on the previous trading day was $0.54.
Palatin Technologies, Inc. is a biopharmaceutical company that develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. The Companys programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide, which is used for the treatment of female sexual dysfunction (FSD). In addition, the Company has drug candidates or development programs for obesity, erectile dysfunction, cardiovascular diseases, pulmonary diseases, inflammatory diseases and dermatologic diseases. Its other drug development programs include Melanocortin receptor-4 (MC4r); PL-3994, and Melanocortin receptor-1 (MC1r). It is developing other Melanocortin drug discovery programs in the melanocortin field, primarily developing peptide compounds, including MC1r agonists, and peptides specific for MC4r, including both agonists and antagonists.