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 February 26 and set a price target of $4. The company’s shares closed last Friday at $0.50, close to its 52-week low of $0.45.

Pantginis said, “Official clinical data were announced at ISSWSH, in no surprise to us, showing that there is no negative interaction between BMT and alcohol. Addyi was bought by Valeant (VRX-NC) for $1 billion days after approval and we believe BMT has shown its superior qualities over a drug with a black box warning (including alcohol contraindication). Reiterate Buy.”

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 $0.45. Currently, Palatin Technologies has an average volume of 216.6k.

Financial bloggers on sites such as wsobserver.com and others, seem to have a Positive view on PTN. When evaluating the opinions of financial bloggers over the last 3 months, 50% of bloggers have indicated a Bullish sentiment, while 50% have indicated a Bearish sentiment. The average blogger Bullish sentiment in the Healthcare sector is 75% which is equal to the blogger sentiment of PTN.

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 -13.1% and a 30.6% 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.