The President & CEO of Palatin Technologies Inc (NYSE MKT: PTN) is Buying Shares

By Carrie Williams

Yesterday, the President & CEO of Palatin Technologies Inc (PTNResearch Report), Carl Spana, bought shares of PTN for $42.9K.

In addition to Carl Spana, 2 other PTN executives reported Buy trades in the last month.

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Currently, Palatin Technologies Inc has an average volume of 2.4M. The Company has a Price to Book ratio of 9.8622.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $5.75, reflecting a 636.9% upside. Starting in September 2018, PTN received 12 Buy ratings in a row. Three different firms, including Canaccord Genuity and Ladenburg Thalmann & Co., currently also have a Buy rating on the stock.

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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.