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Palatin Technologies (PTN) in Focus: Stock Moves 5.7% Higher

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Palatin Technologies, Inc. (PTN - Free Report) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of 96 cents to $1.01 in the past one-month time frame.

The move came after the company reported positive results of oral clinical study of PL-8177 for several inflammatory bowel diseases.

The company has seen no estimate revisions over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Palatin Technologies currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.  

A better-ranked stock in the Medical - Biomedical and Genetics industry is ANI Pharmaceuticals, Inc. (ANIP - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is PTN going up? Or down? Predict to see what others think: Up or Down

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