The stock of Palatin Technologies Inc. (AMEX: PTN) has decreased by -5.15 when compared to last closing price of 1.36.Despite this, the company has seen a loss of -12.84% in its stock price over the last five trading days. prnewswire.com reported 2024-09-09 that Dry Eye Disease (DED): PL9643 MELODY-2 & MELODY-3 Phase 3 Pivotal Clinical Studies FDA Confirms Protocols and Endpoints Targeting Enrollment Start in 4Q Calendar Year 2024 Topline Results Anticipated 4Q Calendar Year 2025 Potential Collaboration/Funding Discussions Ongoing Obesity: Phase 2 Clinical Study with Melanocortin-4 Receptor (MC4R) Agonist + Glucagon Like Peptide-1 (GLP-1) Patient Dosing Commenced 3Q Calendar Year 2024 Topline Results Expected 1Q Calendar Year 2025 Male Sexual Dysfunction: Development and Clinical Program with Bremelanotide Co-Formulated with a PDE5i for the Treatment of Erectile Dysfunction (ED) in Patients That Do Not Respond to PDE5i Monotherapy Pharmacokinetics Study Expected to Start 1Q Calendar Year 2025 Patient Recruitment in Phase 3 Study Anticipated in 2H Calendar Year 2025 Ulcerative Colitis (UC): Oral PL8177 Phase 2 Clinical Study in Active UC Patients Interim Analysis Readout Expected in 4Q Calendar Year 2024 Topline Results Anticipated 1Q Calendar Year 2025 Potential Collaboration Discussions Ongoing CRANBURY, N.J. , Sept. 9, 2024 /PRNewswire/ — Palatin Technologies, Inc. (NYSE American: PTN), a biopharmaceutical company developing first-in-class medicines based on molecules that modulate the activity of the melanocortin receptor system, today provided an update on its clinical programs, strategic priorities, and anticipated milestones.
Is It Worth Investing in Palatin Technologies Inc. (AMEX: PTN) Right Now?
Moreover, the 36-month beta value for PTN is 1.03. Analysts have varying opinions on the stock, with 1 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for PTN is 18.61M and currently, short sellers hold a 7.37% of that float. On September 20, 2024, PTN’s average trading volume was 123.70K shares.
PTN’s Market Performance
The stock of Palatin Technologies Inc. (PTN) has seen a -12.84% decrease in the past week, with a -11.34% drop in the past month, and a -31.38% fall in the past quarter. The volatility ratio for the week is 8.53%, and the volatility levels for the past 30 days are at 8.50% for PTN. The simple moving average for the past 20 days is -13.70% for PTN’s stock, with a -42.06% 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 -17.14% 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 -77.17% of loss for the given period.
Volatility was left at 8.50%, however, over the last 30 days, the volatility rate increased by 8.53%, as shares sank -12.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -24.56% lower at present.
During the last 5 trading sessions, PTN fell by -12.84%, which changed the moving average for the period of 200-days by -41.89% in comparison to the 20-day moving average, which settled at $1.4857. In addition, Palatin Technologies Inc. saw -67.59% 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 WILLS STEPHEN T, who sale 4,999 shares at the price of $1.66 back on Aug 01 ’24. After this action, WILLS STEPHEN T now owns 235,456 shares of Palatin Technologies Inc., valued at $8,274 using the latest closing price.
DEVEER ROBERT K JR, the Director of Palatin Technologies Inc., purchase 6,000 shares at $2.12 during a trade that took place back on Apr 11 ’24, which means that DEVEER ROBERT K JR is holding 40,845 shares at $12,703 based on the most recent closing price.
Stock Fundamentals for PTN
Current profitability levels for the company are sitting at:
- -5.55 for the present operating margin
- 0.88 for the gross margin
The net margin for Palatin Technologies Inc. stands at -5.57. The total capital return value is set at -11.4. Equity return is now at value -588.69, with -177.67 for asset returns.
Based on Palatin Technologies Inc. (PTN), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at -48.96. The debt to equity ratio resting at 0.45. The interest coverage ratio of the stock is -2151.56.
Currently, EBITDA for the company is -32.46 million with net debt to EBITDA at 0.3. When we switch over and look at the enterprise to sales, we see a ratio of 2.66. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.20.
Conclusion
To wrap up, the performance of Palatin Technologies Inc. (PTN) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
