Ladenburg Believes Palatin Technologies (NYSE MKT: PTN) Won’t Stop Here

By Jason Carr

In a report issued on May 10, Michael Higgins from Ladenburg maintained a Buy rating on Palatin Technologies (PTNResearch Report), with a price target of $2.75. The company’s shares closed on Friday at $1.42, close to its 52-week high of $1.46.

According to TipRanks.com, Higgins has currently no stars on a ranking scale of 0-5 stars, with an average return of -4.6% and a 33.7% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Melinta Therapeutics Inc, and Eiger Biopharmaceuticals.

Palatin Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $6, a 322.5% upside from current levels. In a report issued on May 9, H.C. Wainwright also reiterated a Buy rating on the stock with a $6 price target.

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The company has a one-year high of $1.46 and a one-year low of $0.59. Currently, Palatin Technologies has an average volume of 1.14M.

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Palatin Technologies, Inc. is a biopharmaceutical company, which engages in the development of medicines based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product candidate is marketed under the Vyleesi brand, the trade name for bremelanotide, a peptide melanocortin receptor 4 agonist for the treatment of premenopausal women with acquired, generalized, hypoactive sexual desire disorder (HSDD). The company was founded by Carl Spana and John K. A. Prendergast on November 21, 1986 and is headquartered in Cranbury, NJ.