Palatin Technologies Inc. (AMEX: PTN)’s stock price has gone rise by 14.63 in comparison to its previous close of 2.05, however, the company has experienced a 14.63% increase in its stock price over the last five trading days. PRNewsWire reported 2024-05-09 that CRANBURY, N.J., May 9, 2024 /PRNewswire/ — Palatin Technologies, Inc. (NYSE American: PTN) will announce its third quarter fiscal year 2024 operating results on Wednesday, May 15, 2024, before the open of the U.S. financial markets.
Is It Worth Investing in Palatin Technologies Inc. (AMEX: PTN) Right Now?
The stock has a 36-month beta value of 0.96. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for PTN is 15.44M, and at present, short sellers hold a 9.01% of that float. On May 10, 2024, the average trading volume of PTN was 628.78K shares.
PTN’s Market Performance
PTN’s stock has seen a 14.63% increase for the week, with a 25.67% rise in the past month and a -41.54% fall in the past quarter. The volatility ratio for the week is 9.30%, and the volatility levels for the past 30 days are at 8.04% for Palatin Technologies Inc. The simple moving average for the past 20 days is 24.37% for PTN’s stock, with a -0.20% simple moving average for the past 200 days.
Analysts’ Opinion of PTN
Many brokerage firms have already submitted their reports for PTN stocks, with Canaccord Genuity repeating the rating for PTN by listing it as a “Buy.” The predicted price for PTN in the upcoming period, according to Canaccord Genuity is $6 based on the research report published on June 05, 2015 of the previous year 2015.
ROTH Capital, on the other hand, stated in their research note that they expect to see PTN reach a price target of $4, previously predicting the price at $6. The rating they have provided for PTN stocks is “Buy” according to the report published on January 12th, 2015.
PTN Trading at 28.88% from the 50-Day Moving Average
After a stumble in the market that brought PTN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -58.41% of loss for the given period.
Volatility was left at 8.04%, however, over the last 30 days, the volatility rate increased by 9.30%, as shares surge +17.50% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -4.08% lower at present.
During the last 5 trading sessions, PTN rose by +14.63%, which changed the moving average for the period of 200-days by +19.29% in comparison to the 20-day moving average, which settled at $1.91. In addition, Palatin Technologies Inc. saw -40.95% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PTN starting from DEVEER ROBERT K JR, who purchase 6,000 shares at the price of $2.12 back on Apr 11 ’24. After this action, DEVEER ROBERT K JR now owns 40,845 shares of Palatin Technologies Inc., valued at $12,703 using the latest closing price.
DEVEER ROBERT K JR, the Director of Palatin Technologies Inc., sale 11,700 shares at $2.00 during a trade that took place back on Mar 06 ’24, which means that DEVEER ROBERT K JR is holding 34,845 shares at $23,434 based on the most recent closing price.
Stock Fundamentals for PTN
Current profitability levels for the company are sitting at:
- -4.35 for the present operating margin
- 0.9 for the gross margin
The net margin for Palatin Technologies Inc. stands at -4.43. The total capital return value is set at -13.11. Equity return is now at value -1274.20, with -138.78 for asset returns.
Based on Palatin Technologies Inc. (PTN), the company’s capital structure generated -0.08 points at debt to capital in total, while cash flow to debt ratio is standing at -33.35. The debt to equity ratio resting at -0.07. The interest coverage ratio of the stock is -1773.51.
Currently, EBITDA for the company is -32.46 million with net debt to EBITDA at 0.29. When we switch over and look at the enterprise to sales, we see a ratio of 4.12. The receivables turnover for the company is 3.03for trailing twelve months and the total asset turnover is 0.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.09.
Conclusion
To sum up, Palatin Technologies Inc. (PTN) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
