Palatin Technologies (PTN) has risen sharply, recording gains of 24.51% in the past 4 weeks. However, the stock has corrected -3.53% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 25.18% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 12.66% and the 50-Day Moving Average is 10.78%.The 200 Day SMA reached 17.04%
Palatin Technologies (NYSEMKT:PTN): After opening at $0.58, the stock dipped to an intraday low of $0.55 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $0.629 and the buying power remained strong till the end. The stock closed at $0.629 for the day, a gain of 8.45% for the day session. The total traded volume was 2,466,974. The stocks close on the previous trading day was $0.629.
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.