Palatin Technologies Inc. [PTN] Revenue clocked in at $0.90 million, down -64.09% YTD: What’s Next?

Palatin Technologies Inc. [AMEX: PTN] traded at a low on 08/30/22, posting a -8.15 loss after which it closed the day’ session at $0.18. The company report on August 19, 2022 that Palatin Announces Intent to Effect Reverse Stock Split.


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Common Stock Will Begin Trading on a Split-Adjusted Basis on August 31, 2022.

Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems, today announced that it intends to effect a 1-for-25 reverse split of its issued and outstanding common stock (the “Reverse Stock Split”). The Reverse Stock Split will become effective as of 5:00 p.m. Eastern Time on August 30, 2022 (the “Effective Date”), and the Company’s common stock is expected to begin trading on a split-adjusted basis when the market opens on August 31, 2022.

The results of the trading session contributed to over 3553192 shares changing hands. Over the past one week, the price volatility of Palatin Technologies Inc. stands at 12.20% while the volatility over the past one month is 9.26%.

The market cap for PTN stock reached $45.43 million, with 238.81 million shares outstanding and 218.31 million shares in the current float. Compared to the average trading volume of 899.81K shares, PTN reached a trading volume of 3553192 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $3.33 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 0.02, with the Price to Sales ratio for PTN stock in the period of the last 12 months amounting to 50.48. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.15.

How has PTN stock performed recently?

Palatin Technologies Inc. [PTN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.53. With this latest performance, PTN shares dropped by -30.71% in over the last four-week period, additionally sinking by -55.20% over the last 6 months – not to mention a drop of -61.73% 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 26.89, with the RSI for the last a single of trading hit 21.00, and the three-weeks RSI is set at 30.88 for Palatin Technologies Inc. [PTN]. The present Moving Average for the last 50 days of trading for this stock 0.2715, while it was recorded at 0.2046 for the last single week of trading, and 0.3888 for the last 200 days.

Palatin Technologies Inc. [PTN]: Deeper insight into the 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 3.40 and a Current Ratio set at 3.50.

Insider trade positions for Palatin Technologies Inc. [PTN]

There are presently around $3 million, or 7.90% of PTN stock, in the hands of institutional investors. The top three institutional holders of PTN stocks are: VANGUARD GROUP INC with ownership of 9,559,564, which is approximately 0% of the company’s market cap and around 11.30% of the total institutional ownership; BLACKROCK INC., holding 3,117,089 shares of the stock with an approximate value of $0.57 million in PTN stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.32 million in PTN stock with ownership of nearly 3.568% of the company’s market capitalization.

Positions in Palatin Technologies Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 13 institutional holders increased their position in Palatin Technologies Inc. [AMEX:PTN] by around 453,885 shares. Additionally, 17 investors decreased positions by around 456,725 shares, while 42 investors held positions by with 17,225,417 shares. The mentioned changes placed institutional holdings at 18,136,027 shares, according to the latest SEC report filing. PTN stock had 3 new institutional investments in for a total of 180,730 shares, while 9 institutional investors sold positions of 343,040 shares during the same period.

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