Palatin Technologies Inc. (AMEX:PTN) Is Likely To Perform Well Over The Long Term. Gained Nearly 49.12% Last Month.

In last trading session, Palatin Technologies Inc. (AMEX:PTN) saw 0.39 million shares changing hands with its beta currently measuring 1.07. Company’s recent per share price level of $4.25 trading at $0.23 or 5.72% at ring of the bell on the day assigns it a market valuation of $68.59M. That closing price of PTN’s stock is at a discount of -32.94% from its 52-week high price of $5.65 and is indicating a premium of 66.35% from its 52-week low price of $1.43. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.65 million shares which gives us an average trading volume of 333.36K if we extend that period to 3-months.

Palatin Technologies Inc. (AMEX:PTN) trade information

Upright in the green during last session for gaining 5.72%, in the last five days PTN remained trading in the green while hitting it’s week-highest on Monday, 02/05/24 when the stock touched $4.25 price level, adding 3.19% to its value on the day. Palatin Technologies Inc.’s shares saw a change of 6.78% in year-to-date performance and have moved 12.43% in past 5-day. Palatin Technologies Inc. (AMEX:PTN) showed a performance of 49.12% in past 30-days. Number of shares sold short was 0.56 million shares which calculate 1.41 days to cover the short interests.

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Palatin Technologies Inc. (PTN) estimates and forecasts

Statistics highlight that Palatin Technologies Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 54.55% of value to its shares in past 6 months, showing an annual growth rate of 39.92% while that of industry is 15.80. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -53.80% in the current quarter and calculating 47.60% increase in the next quarter. This year revenue growth is estimated to rise 155.30% from the last financial year’s standing.

3 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $6.3 million for the same. And 3 analysts are in estimates of company making revenue of $1.77 million in the next quarter that will end on Mar 2024.

PTN Dividends

Palatin Technologies Inc. is more likely to be releasing its next quarterly report on February 15 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 3.38% of company’s total shares while institution are holding 5.01 percent of that, with stock having share float percentage of 5.18%. Investors also watch the number of corporate investors in a company very closely, which is 5.01% institutions for Palatin Technologies Inc. that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at PTN for having 0.38 million shares of worth $1.63 million. And as of Sep 29, 2023, it was holding 2.78% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 0.12 million shares on Sep 29, 2023. The number of shares represents firm’s hold over 0.87% of outstanding shares, having a total worth of $0.51 million.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 0.25 million shares of worth $1.05 million or 1.80% of the total outstanding shares. The later fund manager was in possession of 0.12 million shares on Sep 29, 2023, making its stake of worth around $0.49 million in the company or a holder of 0.84% of company’s stock.

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