Palatin Technologies (PTN) : Traders are bullish on Palatin Technologies (PTN) as it has outperformed the S&P 500 by a wide margin of 60.88% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 42.54%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 42.45% in the last 1 week, and is up 66.29% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 44.78% and the 50-Day Moving Average is 56.24%. Palatin Technologies Inc. is up 38.1% in the last 3-month period. Year-to-Date the stock performance stands at 22.71%.
Palatin Technologies (NYSEMKT:PTN): stock turned positive on Friday. Though the stock opened at $0.802, the bulls momentum made the stock top out at $0.84 level for the day. The stock recorded a low of $0.8013 and closed the trading day at $0.8148, in the green by 1.94%. The total traded volume for the day was 899,935. The stock had closed at $0.7993 in the previous days trading.
Palatin Technologies, Inc. is a biopharmaceutical company that develops targeted, receptor-specific peptide therapeutics for the treatment of diseases. The Companys programs are based on molecules that modulate the activity of the melanocortin and natriuretic peptide receptor systems. Its primary product in clinical development is Bremelanotide, which is used for the treatment of female sexual dysfunction (FSD). In addition, the Company has drug candidates or development programs for obesity, erectile dysfunction, cardiovascular diseases, pulmonary diseases, inflammatory diseases and dermatologic diseases. Its other drug development programs include Melanocortin receptor-4 (MC4r); PL-3994, and Melanocortin receptor-1 (MC1r). It is developing other Melanocortin drug discovery programs in the melanocortin field, primarily developing peptide compounds, including MC1r agonists, and peptides specific for MC4r, including both agonists and antagonists.