In the latest trading session, Palatin (PTN - Free Report) closed at $0.93, marking a -1.74% move from the previous day. This change lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 1.11%.
Coming into today, shares of the biopharmaceutical company had lost 14.43% in the past month. In that same time, the Medical sector lost 2.58%, while the S&P 500 gained 3.18%.
PTN will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.02, down 133.33% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for PTN. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. PTN is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, PTN is currently trading at a Forward P/E ratio of 3.52. This represents a discount compared to its industry's average Forward P/E of 23.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 51, which puts it in the top 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow PTN in the coming trading sessions, be sure to utilize Zacks.com.