PTN Stock Summary and Trading Ideas (Palatin Techs | AMEX:PTN)

Palatin Technologies Inc is a part of the healthcare sector. The company is engaged in developing targeted, receptor-specific peptide therapeutics for the treatment of diseases with unmet medical needs and commercial potential. Its programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its main product in clinical development is bremelanotide, which treats hypoactive sexual desire disorder, which is a type of female sexual dysfunction.

Palatin Techs trades on the AMEX stock market under the symbol PTN.

As of April 24, 2024, PTN stock price declined to $1.73 with 57,174 million shares trading.

PTN has a beta of 1.15, meaning it tends to be more sensitive to market movements. PTN has a correlation of 0.01 to the broad based SPY ETF.

PTN has a market cap of $27.92 million. This is considered a Sub-Micro Cap stock.

Last quarter Palatin Techs reported $2 million in Revenue and -$.56 earnings per share. This fell short of revenue expectation by $-4 million and missed earnings estimates by -$.36.

In the last 3 years, PTN stock traded as high as $8.60 and as low as $.18.

The top ETF exchange traded funds that PTN belongs to (by Net Assets): VTI, VXF.

PTN has underperformed the market in the last year with a price return of -32.4% while the SPY ETF gained +24.1%. PTN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -54.7% and -7.5%, respectively, while the SPY returned +4.5% and -1.7%, respectively.

PTN support price is $1.63 and resistance is $1.87 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that PTN stock will trade within this expected range on the day.