Palatin Technologies Inc. [AMEX: PTN] gained 32.63% or 0.13 points to close at $0.56 with a heavy trading volume of 19544165 shares. The company report on December 15, 2020 that Palatin Technologies Announces Positive Results From its Phase 2 Study of PL9643 in Patients With Dry Eye Disease.
Statistically Significant Improvement in Moderate-to-Severe Patients for Multiple Sign and Symptom Measures.
Phase 2/3 Clinical Trial Currently Planned for Mid-2021.
It opened the trading session at $0.42, the shares rose to $0.57 and dropped to $0.42, the range by which the price of stock traded the whole day. The daily chart for PTN points out that the company has recorded 1.97% gains over the past six months. However, it is still -60.0% lower than its most recent low trading price.
If we look at the average trading volume of 1.37M shares, PTN reached to a volume of 19544165 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Palatin Technologies Inc. [PTN]:
Canaccord Genuity have made an estimate for Palatin Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 05, 2015. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $6 to $4. The new note on the price target was released on January 12, 2015, representing the official price target for Palatin Technologies Inc. stock.
The Average True Range (ATR) for Palatin Technologies Inc. is set at 0.03 The Price to Book ratio for the last quarter was 1.71, with the Price to Cash per share for the same quarter was set at 0.39.
Trading performance analysis for PTN stock
Palatin Technologies Inc. [PTN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 38.48. With this latest performance, PTN shares gained by 35.82% in over the last four-week period, additionally plugging by 1.97% over the last 6 months – not to mention a drop of -27.92% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTN stock in for the last two-week period is set at 73.12, with the RSI for the last a single of trading hit 78.52, and the three-weeks RSI is set at 68.55 for Palatin Technologies Inc. [PTN]. The present Moving Average for the last 50 days of trading for this stock 0.4239, while it was recorded at 0.4561 for the last single week of trading, and 0.4855 for the last 200 days.
Palatin Technologies Inc. [PTN]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Palatin Technologies Inc. [PTN] shares currently have an operating margin of -20007.61. Palatin Technologies Inc.’s Net Margin is presently recorded at -19006.88.
Return on Total Capital for PTN is now -25.90, given the latest momentum, and Return on Invested Capital for the company is -24.69. Return on Equity for this stock declined to -24.82, with Return on Assets sitting at -23.63. When it comes to the capital structure of this company, Palatin Technologies Inc. [PTN] has a Total Debt to Total Equity ratio set at 1.58. Additionally, PTN Total Debt to Total Capital is recorded at 1.55, with Total Debt to Total Assets ending up at 1.49. Long-Term Debt to Equity for the company is recorded at 1.19, with the Long-Term Debt to Total Capital now at 1.17.
Reflecting on the efficiency of the workforce at the company, Palatin Technologies Inc. [PTN] managed to generate an average of -$1,121,301 per employee. Receivables Turnover for the company is 0.00 with a Total Asset Turnover recorded at a value of 0.00.Palatin Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.40 and a Current Ratio set at 7.90.
Palatin Technologies Inc. [PTN]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Palatin Technologies Inc. posted -0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -100.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTN.
An analysis of insider ownership at Palatin Technologies Inc. [PTN]
There are presently around $20 million, or 15.20% of PTN stock, in the hands of institutional investors. The top three institutional holders of PTN stocks are: VANGUARD GROUP INC with ownership of 9,469,591, which is approximately 0% of the company’s market cap and around 6.20% of the total institutional ownership; ACADIAN ASSET MANAGEMENT LLC, holding 7,109,166 shares of the stock with an approximate value of $4.02 million in PTN stocks shares; and BLACKROCK INC., currently with $2.1 million in PTN stock with ownership of nearly -0.285% of the company’s market capitalization.
Positions in Palatin Technologies Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 18 institutional holders increased their position in Palatin Technologies Inc. [AMEX:PTN] by around 2,919,420 shares. Additionally, 45 investors decreased positions by around 5,732,102 shares, while 30 investors held positions by with 26,284,543 shares. The mentioned changes placed institutional holdings at 34,936,065 shares, according to the latest SEC report filing. PTN stock had 7 new institutional investments in for a total of 297,918 shares, while 19 institutional investors sold positions of 2,250,109 shares during the same period.