Roth Capital Thinks Palatin Technologies’ Stock is Going to Recover

By George MacDonald

Roth Capital analyst Joseph Pantginis reiterated a Buy rating on Palatin Technologies (AMEX: PTN) on March 27 and set a price target of $4. The company’s shares closed yesterday at $0.54, close to its 52-week low of $0.36.

Palatin Technologies has an analyst consensus of Moderate Buy.

The company has a one year high of $1.58 and a one year low of $0.36. Currently, Palatin Technologies has an average volume of 214.7k.

Unlike Roth Capital`s latest rating, based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2015, Joseph Stanley Hull, a a Director at PTN bought 2,500 shares for a total of $1,650.

According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -6.4% and a 33.3% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, ImmunoCellular Therapeutics, and Strongbridge Biopharma Plc.

Palatin Technologies Inc is a biopharmaceutical company engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with unmet medical need and commercial potential.