Fintel reports that on May 30, 2023, HC Wainwright & Co. reiterated coverage of Palatin Technologies (AMEX:PTN) with a Buy recommendation.
Analyst Price Forecast Suggests 1,697.54% Upside
As of May 11, 2023, the average one-year price target for Palatin Technologies is 43.86. The forecasts range from a low of 9.09 to a high of $73.50. The average price target represents an increase of 1,697.54% from its latest reported closing price of 2.44.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Palatin Technologies is 10MM, an increase of 165.32%. The projected annual non-GAAP EPS is -2.56.
What is the Fund Sentiment?
There are 55 funds or institutions reporting positions in Palatin Technologies. This is a decrease of 8 owner(s) or 12.70% in the last quarter. Average portfolio weight of all funds dedicated to PTN is 0.00%, an increase of 43.72%. Total shares owned by institutions decreased in the last three months by 44.19% to 1,102K shares. 
The put/call ratio of PTN is 0.03, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 247K shares representing 2.16% ownership of the company. No change in the last quarter.
ITOT - iShares Core S&P Total U.S. Stock Market ETF holds 127K shares representing 1.11% ownership of the company. In it's prior filing, the firm reported owning 129K shares, representing a decrease of 1.66%. The firm increased its portfolio allocation in PTN by 0.55% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 116K shares representing 1.01% ownership of the company. No change in the last quarter.
Millennium Management holds 76K shares representing 0.66% ownership of the company. In it's prior filing, the firm reported owning 46K shares, representing an increase of 39.49%. The firm increased its portfolio allocation in PTN by 83.57% over the last quarter.
Geode Capital Management holds 66K shares representing 0.58% ownership of the company. No change in the last quarter.
Palatin Technologies Background Information
(This description is provided by the company.)
Palatin Technologies, Inc. is a biopharmaceutical company developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with significant unmet medical need and commercial potential. Palatin's strategy is to develop products and then form marketing collaborations with industry leaders in order to maximize their commercial potential.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
