At the time of writing, Palatin Technologies Inc. [PTN] stock is trading at $1.87, up 16.87%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PTN shares have gain 15.43% over the last week, with a monthly amount drifted -23.67%, and not seem to be holding up well over a long-time horizon.
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On 28, February 2024, Palatin Announces Results of PL9643 MELODY-1 Pivotal Phase 3 Clinical Trial in Patients with Dry Eye Disease (DED). In a post published today on Yahoo Finance, On an Intent-to-Treat Analysis, Co-Primary Symptom Endpoint Met, Statistical Significance (P<0.025).
From an analyst’s perspective:
Palatin Technologies Inc. [AMEX: PTN] stock has seen the most recent analyst activity on June 05, 2015, when Canaccord Genuity reiterated its Buy rating and also boosted its price target to $6 from $4. Previously, ROTH Capital reaffirmed its Buy rating on January 12, 2015, and dropped its price target to $4. On May 23, 2012, Noble Financial initiated with a Buy rating. Next Generation started tracking the stock assigning a Buy rating and suggested a price target of $5 on January 23, 2007.
For the past year, the stock price of Palatin Technologies Inc. fluctuated between $1.43 and $5.65. Palatin Technologies Inc. [AMEX: PTN] shares were valued at $1.87 at the most recent close of the market.
Analyzing the PTN fundamentals
According to Palatin Technologies Inc. [AMEX:PTN], the company’s sales were 7.10M for trailing twelve months, which represents an 98.18% jump. Gross Profit Margin for this corporation currently stands at 0.9% with Operating Profit Margin at -4.35%, Pretax Profit Margin comes in at -4.45%, and Net Profit Margin reading is -4.43%. To continue investigating profitability, this company’s Return on Assets is posted at -2.32, Equity is 19.33 and Total Capital is -13.11. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of-0.07.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 1.6800 points at the first support level, and at 1.4900 for the second support level. However, for the 1st resistance point, the stock is sitting at 1.9900, and for the 2nd resistance point, it is at 2.1100.
Palatin Technologies Inc. [PTN] reported earnings per share of -$0.56 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.2/share, meaning a difference of -$0.36 and a surprise factor of -180.00%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.48 per share as compared to estimates of -$0.41 per share, a difference of -$0.07 representing a surprise of -17.10%.
Ratios To Look Out For
It is important to note that Palatin Technologies Inc. [AMEX:PTN] has a current ratio of 1.09. In addition, the Quick Ratio stands at 1.09 and the Cash Ratio stands at 0.85. Considering the valuation of this stock, the price to sales ratio is 4.25.
Transactions by insiders
Recent insider trading involved DEVEER ROBERT K JR, Director, that happened on Mar 06 ’24 when 11700.0 shares were sold. Executive VP and CFO/COO, WILLS STEPHEN T completed a deal on Dec 06 ’23 to sell 4998.0 shares. Meanwhile, Director DUNTON ALAN W sold 200.0 shares on Dec 04 ’23.
