During the recent session, Palatin Technologies, Inc. (NYSE:PTN)’s traded shares were 1,789,113, with the beta value of the company hitting 1.47. At the last check, the stock’s price was $0.65, reflecting an intraday loss of -1.89% or -$0.01. The 52-week high for the PTN share is $1.3, that puts it down -100% from that peak though still a striking +41.54% gain since the share price plummeted to a 52-week low of $0.38. The company’s market capitalization is $148.56 Million, and the average intraday trading volume over the past 10 days was 2.91 Million shares, and the average trade volume was 6.52 Million shares over the past three months.
Palatin Technologies, Inc. (PTN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.3. PTN has a Sell rating from none of the analyst(s) out of 3 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 3 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.03.
Palatin Technologies, Inc. (NYSE:PTN): Trading Information
Palatin Technologies, Inc. (PTN) registered a -1.89% downside in the last session and has traded in the red over the past 5 sessions. The stock spiked 11.04% in intraday trading to $0.727 this Thursday, Apr 01, hitting a weekly high. The stock’s 5-day price performance is -6.21%, and it has moved by -5.2% in 30 days. Despite these dips, the overall price performance for the year is -4.29%. The short interest in Palatin Technologies, Inc. (NYSE:PTN) is 7.5 Million shares and it means that shorts have 1.15 day(s) to cover.
The consensus price target of analysts on Wall Street is $2.33, which implies an increase of 258.46% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $3 respectively. As a result, PTN is trading at a discount of 361.54% off the target high and 207.69% off the low.
Palatin Technologies, Inc. (PTN) projections and forecasts
Statistics show that Palatin Technologies, Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Palatin Technologies, Inc. (PTN) shares have gone up +41.41% during the last six months, with a year-to-date growth rate more than the industry average at 40% against 8.4%. Yet analysts are winding down their growth forecast for the fiscal year 2021. Revenue is predicted to decline -50% this quarter and then fall -33.3% in the quarter after that. In the rating firms’ projections, revenue will increase 1510.2% compared to the previous financial year.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 8.1%. While earnings are projected to return -158% in 2021, the next five years will return 0% per annum.
Palatin Technologies, Inc. (NYSE:PTN)’s Biggest Investors
Palatin Technologies, Inc. insiders own 3.81% of total outstanding shares while institutional holders control 13.19%, with the float percentage being 13.71%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 89 institutions own stock in it. As of Dec 30, 2020, the company held over 9.47 Million shares (or 4.12% of all shares), a total value of $6.4 Million in shares.
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The next largest institutional holding, with 5.34 Million shares, is of Acadian Asset Management’s that is approximately 2.32% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $3.61 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Palatin Technologies, Inc. (PTN) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 6,080,943 shares. This amounts to just over 2.64 percent of the company’s overall shares, with a $4.11 Million market value. The same data shows that the other fund manager holds slightly less at 2.87 Million, or about 1.25% of the stock, which is worth about $1.94 Million.