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Palatin Techs

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 Technologies Inc

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PLATINA RESOURCES LTD ORD by Platina Resources, Ltd.

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PARCELPAL LOGISTICS INC by PARCELPAL LOGISTICS INC.

<h3>Gainers</h3>
<ul>
<li>Onconetix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) shares rose 53.5% to $5.15 during Friday's regular session. The company's market cap stands at $3.8 million. </li>
<li>Cue Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CUE#NASDAQ">CUE</a>) stock increased by 31.77% to $0.6. The market value of their outstanding shares is at $29.1 million. </li>
<li>Plus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTV#NASDAQ">PSTV</a>) shares moved upwards by 22.72% to $1.89. The market value of their outstanding shares is at $11.1 million. </li>
<li>Estrella Immunopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLA#NASDAQ">ESLA</a>) stock moved upwards by 22.69% to $1.19. The market value of their outstanding shares is at $43.2 million. As per the press release, Q4 earnings came out today. </li>
<li>Indaptus Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDP#NASDAQ">INDP</a>) shares rose 16.98% to $1.24. The company's market cap stands at $12.6 million. </li>
<li>Mainz Biomed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYNZ#NASDAQ">MYNZ</a>) shares increased by 16.73% to $0.25. The company's market cap stands at $5.4 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Theriva Biologics (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/TOVX#AMEX">TOVX</a>) shares decreased by 27.0% to $1.49 during Friday's regular session. The market value of their outstanding shares is at $2.0 million. </li>
<li>enVVeno Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVNO#NASDAQ">NVNO</a>) stock declined by 24.45% to $3.4. The company's market cap stands at $45.3 million. </li>
<li>Inspire Veterinary (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IVP#NASDAQ">IVP</a>) shares decreased by 21.54% to $0.47. The market value of their outstanding shares is at $3.5 million. </li>
<li>Palatin Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PTN#AMEX">PTN</a>) stock declined by 18.43% to $0.77. The company's market cap stands at $14.9 million. </li>
<li>Acadia Healthcare Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACHC#NASDAQ">ACHC</a>) shares fell 17.41% to $62.49. The company's market cap stands at $5.8 billion. </li>
<li>Impact BioMedical (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IBO#AMEX">IBO</a>) shares fell 15.49% to $2.02. The company's market cap stands at $23.2 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

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12 Health Care Stocks Moving In Friday's Intraday Session

HC Wainwright &amp; Co. analyst Joseph Pantginis reiterates Palatin Techs (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/PTN#AMEX">PTN</a>) with a Buy and maintains $17 price target.

News

Price Target

Reiteration

Analyst Ratings

HC Wainwright & Co. Reiterates Buy on Palatin Techs, Maintains $17 Price Target

Biotech

Health Care

General

Palatin Technologies Has Started Patient Dosing In Phase 2 Study Of Bremelanotide Co-administered With Tirzepatide For Obesity, Complete Enrollment Is Currently Expected In 3Q 2024, With Topline Data Expected In Q1 Calendar Year 2025

Palatin Technologies Enters Warrant Inducement Agreement With Institutional Investor To Exercise 3,233,277 Shares Issued In November 2022 And October 2023, Raising $6.1M

Palatin Technologies Has Initiated Phase 2 Study Of Bremelanotide, A Melanocortin 4 Receptor, Co-administered With A Phosphodiesterase 5 Inhibitor, For Erectile Dysfunction In Patients That Do Not Respond To PDE5i Monotherapy. Topline Data Is Expected By

<ul>
<li>Co-Administration Phase 2 study of bremelanotide with tirzepatide (GLP-1) to provide key information for melanocortin treatments of obesity</li>
<li>Topline data expected by end of calendar year 2024</li>
<li>Additional studies under assessment for multiple metabolic conditions</li>
</ul>

Palatin Begins Phase 2 Trial To Assess Combined Efficacy Of Bremelanotide And Tirzepatide In Obesity Management

Investors might want to bet on Palatin Technologies, Inc. (AMEX:PTN), as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.
The sole determinant of the Zacks rating is a company&#39;s changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.
Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as these are mostly driven by subjective factors that are hard to see and measure in real time.
Therefore, the Zacks rating upgrade for Palatin Technologies basically reflects positivity about its earnings outlook that could translate into buying pressure and an increase in its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company&#39;s future earnings potential, as reflected in earnings estimate revisions, and the near-term price movement of its stock are proven to be strongly correlated. That&#39;s partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company&#39;s shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Palatin Technologies, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company&#39;s underlying business. And investors&#39; appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisions
As empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988.
Earnings Estimate Revisions for Palatin Technologies
This company is expected to earn -$2.28 per share for the fiscal year ending June 2024, which represents a year-over-year change of 9.9%.
Analysts have been steadily raising their estimates for Palatin Technologies. Over the past three months, the Zacks Consensus Estimate for the company has increased 1.3%.
Bottom Line
Unlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of &#39;buy&#39; and &#39;sell&#39; ratings for its entire universe of more than 4000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a &#39;Strong Buy&#39; rating and the next 15% get a &#39;Buy&#39; rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
The upgrade of Palatin Technologies to a Zacks Rank #2 positions it in the top 20% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
<a href="https://www.zacks.com/stock/news/2276232/palatin-technologies-ptn-upgraded-to-buy-what-does-it-mean-for-the-stock?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_12_zacks_rank_upgrade-2276232">To read this article on Zacks.com click here.</a>

Earnings

Upgrades

Markets

Trading Ideas

Palatin Technologies Upgraded to Buy: What Does It Mean for the Stock?

WIIM

Palatin Technologies shares are trading lower after the company reported worse-than-expected Q3 GAAP EPS results.

Guidance

As Of March 31, 2024, Palatin's Cash, Cash Equivalents And Marketable Securities Were $10M Expected To Provide Cash Runway Into Second Half Of Calendar Year 2024

Palatin Techs Q3 2024 GAAP EPS $(0.53) Misses $(0.50) Estimate

FDA Clears Palatin's IND Application For Phase 2 Study Of Bremelanotide Co-Administered With Tirzepatide For Obesity, The Phase 2 Study Is Expected To Start By Mid-2024, With Topline Data Results By The End Of 2024

The Dow Jones index closed slightly lower on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Tecogen </h3>
<ul>
<li>The Trade: Tecogen Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tgen#OTC">TGEN</a>) Director John Hatsopoulos <a href="https://www.benzinga.com/quote/DOMH/analyst-ratings"> acquired a total of 1,000 shares </a> an average price of $0.70. To acquire these shares, it cost around $700.</li>
<li>What&rsquo;s Happening: On March 13, Tecogen reported revenues of $5.9 million and a net loss of $1.8 million for the quarter ended Dec. 31, 2023.</li>
<li>What Tecogen Does: Tecogen Inc, designs, manufactures, markets, and maintains high-efficiency, ultra-clean cogeneration products.</li>
</ul>
<h3>Augusta Gold</h3>
<ul>
<li>The Trade: Augusta Gold Corp. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/augg#OTC">AUGG</a>) Executive Chairman Richard W Warke <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 5,000 shares at </a> at an average price of $0.81. To acquire these shares, it cost around $4,050.</li>
<li>What&rsquo;s Happening: On March 28, Augusta Gold named Ty Minnick as interim CFO.</li>
<li>What Augusta Gold Does: Augusta Gold Corp is an exploration-stage company. The company is primarily engaged in the acquisition and exploration of gold properties. It operates Bullfrog Project, located in Beatty town of Las Vegas, Nevada.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38215617/fear-greed-index-moves-to-greed-zone-following-ppi-data-nasdaq-record-sharp-gains"> Fear &amp; Greed Index Moves To &#39;Greed&#39; Zone Following PPI Data; Nasdaq record Sharp Gains </a>
<h3>Palatin Technologies </h3>
<ul>
<li>The Trade: Palatin Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ptn#NYSE">PTN</a>) Director Robert K Deveer Jr <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 6,000 shares </a> at an average price of $2.12. The insider spent around $12,703 to buy those shares.</li>
<li>What&rsquo;s Happening: On Monday, Palatin Technologies announced the presentation of topline results for its Phase 3 PL9643 MELODY-1 trial, which evaluated the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease (DED) at the American Society of Cataract and Refractive Surgery.</li>
<li>What Palatin Technologies Does: 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.</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Long Ideas

Penny Stocks

Insider Trades

Pre-Market Outlook

AUGG

TGEN

Palatin Technologies And 2 Other Stocks Under $3 Insiders Are Buying

On Monday,&nbsp;Palatin Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTN#NYSE">PTN</a>) announced the presentation of topline results for its Phase 3 PL9643 MELODY-1 trial, which evaluated the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease (DED) at the American Society of&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38139617/palatin-announces-phase-3-pl9643-melody-1-dry-eye-disease-ded-clinical-data-results-presented-at-a" rel="noreferrer noopener">Cataract and Refractive Surgery</a>.
The company released the mixed topline&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/02/37367897/palatin-technologies-disappointing-data-from-dry-eye-disease-study-stock-plummets" rel="noreferrer noopener">data in February 2024</a>.
The presentation included MELODY-1 Phase 3 data results, which indicate that the Intent-to-Treat PL9643 treatment population demonstrated clinically meaningful and statistically significant results at the change from baseline to week 12 for the co-primary symptom endpoint of pain (p&lt;0.025) and multiple exploratory secondary symptom endpoints.&nbsp;
The presentation also included an overview of the excellent and superior safety and tolerability profile of PL9643 compared to other approved treatments.
&#8220;Analysis of our successful Phase 3 MELODY-1 clinical trial results demonstrate that PL9643 has broad, robust, and rapid efficacy for multiple symptom endpoints. The efficacy results were statistically significant for the co-primary symptom endpoint of pain and 7 of 11 exploratory secondary endpoints, including eye dryness, as early as two weeks. The effect improved and maintained statistical significance over the 12-week treatment period,&#8221; said Carl Spana, President and CEO of Palatin.&nbsp;
&#8220;Additionally, we have identified a substantial patient population with statistically significant efficacy results after two weeks of treatment with PL9643 for multiple sign endpoints, including all four fluorescein staining endpoints, which improves ocular surface disorders and facilitates the identification and treatment of epithelial damage and corneal injuries.&#8221;
&#8220;The early onset of efficacy for multiple symptoms and signs of dry eye disease and the excellent ocular safety and tolerability profile positions PL9643 as a highly differentiated product,&#8221; Dr. Spana continued.
Safety analysis from the Phase 3 MELODY-1 trial indicated PL9643 was well-tolerated.&nbsp;
There were fewer ocular treatment-related adverse events in the PL9643 arm (5.6%) compared to the vehicle (6.3%) and fewer study discontinuations in the PL9643 arm (7%) compared to the vehicle (11.1%).&nbsp;
A higher proportion of the vehicle-treated patients dropped out of the study before week 12 compared to the PL9643-treated patients.
While DED is one of the most common ocular disorders, affecting an estimated 38 million people in the U.S., only about 18 million are diagnosed, and less than 10% of those diagnosed are treated with a prescription product.&nbsp;
The dry eye disease market is estimated at $6.11 billion in 2024 and is expected to reach $7.46 billion by 2029, growing at a CAGR of 4.09% during the forecast period (2024-2029).&nbsp;
Price Action: PTN shares are up 33.1% at $2.34 on the last check Monday.
Photo by Gerax Sotelo on Unsplash

Palatin Technologies Eyes Growing $6B Dry Eye Disease Market With Late-Stage Study Data

Palatin Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTN#NYSE">PTN</a>), a biopharmaceutical company developing first-in-class medicines based on molecules&nbsp;that&nbsp;modulate&nbsp;the&nbsp;activity of&nbsp;the&nbsp;melanocortin&nbsp;receptor&nbsp;system, today announced the presentation of topline results for its Phase 3 PL9643 MELODY-1 pivotal clinical trial evaluating the safety and efficacy of PL9643 versus vehicle in the treatment of dry eye disease (DED) at the American Society of Cataract and Refractive Surgery (ASCRS).

Palatin Announces Phase 3 PL9643 MELODY-1 Dry Eye Disease (DED) Clinical Data Results Presented at American Society of Cataract and Refractive Surgery (ASCRS) 2024

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on Palatin Technologies (PTN – Research Report), Presti...

Analysts Offer Insights on Healthcare Companies: Palatin Technologies (PTN), Prestige Consumer Healthcare (PBH) and CervoMed (CRVO)

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Palatin Technologies (PTN – Research Report) and Prestige Consume...

Analysts Offer Insights on Healthcare Companies: Palatin Technologies (PTN) and Prestige Consumer Healthcare (PBH)

There's a lot to be optimistic about in the Healthcare sector as 2 analysts just weighed in on Repare Therapeutics (RPTX – Research Report) and Pal...

Analysts Are Bullish on Top Healthcare Stocks: Repare Therapeutics (RPTX), Palatin Technologies (PTN)

Analyst Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Palatin Technologies (PTN – Research Report) and keeping the price target ...

Optimistic Outlook on Palatin's Innovative Obesity Treatment and Phase 2 Trial

Palatin starts Phase 2 obesity study of bremelanotide with Zepbound

H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Palatin Technologies (PTN – Research Report) today and set a price target of $1...

Buy Rating Affirmed for Palatin Technologies Amid Promising ED and Obesity Treatment Trials

Palatin Technologies (PTN) has provided an update. In a strategic move to bolster its financial position, a company has reached an agreement with a...

Palatin Technologies Secures Growth with Warrant Exercise Deal

In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Palatin Technologies (PTN – Research Report), with a p...

Positive Buy Rating for Palatin Technologies Based on Promising Obesity and ED Clinical Trials

Analyst Joseph Pantginis of H.C. Wainwright maintained a Buy rating on Palatin Technologies (PTN – Research Report), retaining the price target of ...

Buy Rating Affirmed for Palatin Technologies Amidst Promising Drug Developments and Clear FDA Pathways

Palatin stock climbs 8% on Phase 3 testing update for PL9643

CRVO

RPTX

Tired,Teen,Girl,Rubbing,Dry,Irritable,Eyes,Feel,Eye,Strain

Press Releases

FDA Confirms Acceptability of Palatin&#39;s Remaining Phase 3 Pivotal Clinical Trials For PL9643 In Dry Eye Disease (DED)

Screenshot 2024-08-28 at 6.22.42 PM

Palatin Technologies: Utilizing The Melanocortin System As The Basis For Innovation In Drug Development – Targeting Inflammatory &amp;  Autoimmune Conditions, Obesity And Sexual Dysfunctions

Biochemical,Research,Scientist,Team,Working,With,Microscope,For,Coronavirus,Vaccine

First Patient Dosed In Phase 2 Clinical Study Of Palatin&#39;s Bremelanotide Co-Administered With Tirzepatide (GLP-1) For The Treatment Of Obesity

Palatin Reports Third Quarter Fiscal Year 2024 Financial Results and Provides Corporate Update

Palatin Initiates Phase 2 Clinical Study of Bremelanotide for the Treatment of Obesity

Palatin Announces the Initiation of a Phase 2 Clinical Study of Bremelanotide Co-Administered with a PDE5i for the Treatment of Erectile Dysfunction (ED)

Offerings

Palatin Announces Exercise of Warrants for Approximately $6.1 Million Gross Proceeds

First Patient Dosed in Phase 2 Clinical Study of Palatin's Bremelanotide Co-Administered with Tirzepatide (GLP-1) for the Treatment of Obesity

FDA Confirms Acceptability of Palatin's Remaining Phase 3 Pivotal Clinical Trials for PL9643 in Dry Eye Disease (DED)

Palatin Technologies: Utilizing The Melanocortin System As The Basis For Innovation In Drug Development – Targeting Inflammatory &  Autoimmune Conditions, Obesity And Sexual Dysfunctions

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