Palatin Technologies Inc. [AMEX: PTN] stock went on an upward path that rose over 49.36% on Wednesday, amounting to a one-week price increase of more than 36.45%. The company report on November 15, 2021 that Palatin Reports First Quarter Fiscal Year 2022 Results and Provides Corporate Update.
— Phase 3 Pivotal Study of PL9643 in Patients with Dry Eye Disease Expected to Start December 2021 with Top-Line Results Expected in the Second Half Calendar 2022.
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— Phase 2 Clinical Study of PL8177 in Patients with Ulcerative Colitis Currently Expected to Start First Half Calendar 2022 with Top-Line Results Expected in the Second Half Calendar 2022.
Over the last 12 months, PTN stock rose by 23.95%. The one-year Palatin Technologies Inc. stock forecast points to a potential upside of 78.11. The average equity rating for PTN stock is currently 1.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $123.31 million, with 238.23 million shares outstanding and 221.26 million shares in the current float. Compared to the average trading volume of 964.35K shares, PTN stock reached a trading volume of 118715934 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Palatin Technologies Inc. [PTN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTN shares is $2.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTN stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
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 0.04, with the Price to Sales ratio for PTN stock in the period of the last 12 months amounting to 411.04. The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 0.22.
PTN Stock Performance Analysis:
Palatin Technologies Inc. [PTN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 36.45. With this latest performance, PTN shares gained by 21.87% in over the last four-week period, additionally sinking by -6.47% over the last 6 months – not to mention a rise of 23.95% 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 72.28, with the RSI for the last a single of trading hit 78.39, and the three-weeks RSI is set at 66.78 for Palatin Technologies Inc. [PTN]. The present Moving Average for the last 50 days of trading for this stock 0.4229, while it was recorded at 0.3892 for the last single week of trading, and 0.5601 for the last 200 days.
Insight into Palatin Technologies Inc. Fundamentals:
Return on Total Capital for PTN is now -46.24, given the latest momentum, and Return on Invested Capital for the company is -51.03. Return on Equity for this stock declined to -51.76, with Return on Assets sitting at -44.10. When it comes to the capital structure of this company, Palatin Technologies Inc. [PTN] has a Total Debt to Total Equity ratio set at 2.52. Additionally, PTN Total Debt to Total Capital is recorded at 2.46, with Total Debt to Total Assets ending up at 1.86. Long-Term Debt to Equity for the company is recorded at 1.81, with the Long-Term Debt to Total Capital now at 1.77.
Receivables Turnover for the company is -0.24 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 5.90 and a Current Ratio set at 6.00.
PTN Stock EPS
With the latest financial reports released by the company, Palatin Technologies Inc. posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.02/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -50.00%. 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.
Palatin Technologies Inc. [PTN] Insider Position Details
There are presently around $7 million, or 8.90% of PTN stock, in the hands of institutional investors. The top three institutional holders of PTN stocks are: VANGUARD GROUP INC with ownership of 9,523,632, which is approximately 0% of the company’s market cap and around 9.10% of the total institutional ownership; BLACKROCK INC., holding 3,133,760 shares of the stock with an approximate value of $1.08 million in PTN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.57 million in PTN stock with ownership of nearly 0% 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 20 institutional holders increased their position in Palatin Technologies Inc. [AMEX:PTN] by around 676,827 shares. Additionally, 17 investors decreased positions by around 2,933,700 shares, while 39 investors held positions by with 16,739,942 shares. The mentioned changes placed institutional holdings at 20,350,469 shares, according to the latest SEC report filing. PTN stock had 10 new institutional investments in for a total of 336,631 shares, while 4 institutional investors sold positions of 1,676,081 shares during the same period.