Weak fundamental momentum pushes Palatin Technologies, Inc. (PTN) lower – Marketing Sentinel

Weak fundamental momentum pushes Palatin Technologies, Inc. (PTN) lower

Palatin Technologies, Inc. (NYSE:PTN) has a beta value of 1.4 and has seen 1,455,577 shares traded in the recent trading session. The company, currently valued at $132.81 Million, closed the recent trade at $0.57 per share which meant it lost -$0.05 on the day or -6.93% during that session. The PTN stock price is -128.07% off its 52-week high price of $1.3 and 33.33% above the 52-week low of $0.38. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.91 Million shares traded. The 3-month trading volume is 6.52 Million shares.

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The consensus among analysts is that Palatin Technologies, Inc. (PTN) is a Buy stock at the moment, with a recommendation rating of 1.3. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 3 have rated it as a Hold, with 3 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.03.

Palatin Technologies, Inc. (NYSE:PTN) trade information

Despite being -6.93% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Apr 28 when the PTN stock price touched $0.6689 or saw a rise of 14.08%. Year-to-date, Palatin Technologies, Inc. shares have moved -14.96%, while the 5-day performance has seen it change -9.17%. Over the past 30 days, the shares of Palatin Technologies, Inc. (NYSE:PTN) have changed -19.62%. Short interest in the company has seen 7.42 Million shares shorted with days to cover at 1.14.

Wall Street analysts have a consensus price target for the stock at $2.33, which means that the shares’ value could jump 308.77% from the levels at last check today. The projected low price target is $2 while the price target rests at a high of $3. In that case, then, we find that the latest price level in today’s session is +426.32% off the targeted high while a plunge would see the stock lose 250.88% from the levels at last check today.

Palatin Technologies, Inc. (PTN) estimates and forecasts

Figures show that Palatin Technologies, Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +50.96% over the past 6 months, with this year growth rate of -40%, compared to 8.2% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are -50% and -33.3% for the next quarter. Revenue growth from the last financial year stood is estimated to be +1510.2%.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +8.1% over the past 5 years. Earnings growth for 2021 is a modest -158%.

Palatin Technologies, Inc. (NYSE:PTN)’s Major holders

Insiders own 3.81% of the company shares, while shares held by institutions stand at 13.22% with a share float percentage of 13.74%. Investors are also buoyed by the number of investors in a company, with Palatin Technologies, Inc. having a total of 91 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 9.47 Million shares worth more than $6.4 Million. As of December 30, 2020, Vanguard Group, Inc. (The) held 4.12% of shares outstanding.

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The other major institutional holder is Acadian Asset Management, with the holding of over 5.34 Million shares as of December 30, 2020. The firm’s total holdings are worth over $3.61 Million and represent 2.32% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of December 30, 2020, the former fund manager holds about 2.64% shares in the company for having 6080943 shares of worth $4.11 Million while later fund manager owns 2.87 Million shares of worth $1.94 Million as of December 30, 2020, which makes it owner of about 1.25% of company’s outstanding stock.

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