$PTN On watch - HC Wainwright: Why The Upside Pote
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Posted On: 04/09/2018 1:16:17 PM
$PTN On watch - HC Wainwright: Why The Upside Potential For Palatin Technologies Is Nearly Fivefold
Palatin Technologies, Inc. (NYSE: PTN), a biopharmaceutical company that focuses on treatments for diseases with significant unmet medical needs, boasts a lead asset, bremelanotide, that has an "arousing number of major boxes checked," according to H.C. Wainwright.
The Analyst
H.C. Wainwright & Co's Joseph Pantginis initiated coverage of Palatin Technologies' stock with a Buy rating and $5 price target.
The Thesis
Bremelanotide, a treatment for hypoactive sexual desire disorder in women, offers investors a "derisked opportunity" for three reasons, Pantginis said in the initiation note. They are:
A New Drug Application was already filed with the FDA on March 26.
Two Phase 3 studies yielded positive results.
A North American partnership is already in place with AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG).
Regional partnerships in China and Korea are already established.
Four more potential catalysts are not presently reflected in Palatin's share price, Pantginis said:
Expectations for a partnership in Europe.
The potential to become the first company to have a first-in-class and best-in-class drug for an unaddressed market.
Expectations for full FDA approval.
A management team with proven execution.
Price Action
Shares of Palatin Technologies were trading higher by 3.33 percent at the time of publication Friday.
Related Links:
Benzinga Pro's 5 Stocks To Watch Today
Benzinga's Top Upgrades, Downgrades For April 6, 2018
Latest Ratings for PTN
Date Firm Action From To
Apr 2018 H.C. Wainwright Initiates Coverage On Buy
Jun 2015 Canaccord Genuity Maintains Buy
Mar 2015 Canaccord Genuity Initiates Coverage on Buy
Chart Update:
Palatin Technologies, Inc. (NYSE: PTN), a biopharmaceutical company that focuses on treatments for diseases with significant unmet medical needs, boasts a lead asset, bremelanotide, that has an "arousing number of major boxes checked," according to H.C. Wainwright.
The Analyst
H.C. Wainwright & Co's Joseph Pantginis initiated coverage of Palatin Technologies' stock with a Buy rating and $5 price target.
The Thesis
Bremelanotide, a treatment for hypoactive sexual desire disorder in women, offers investors a "derisked opportunity" for three reasons, Pantginis said in the initiation note. They are:
A New Drug Application was already filed with the FDA on March 26.
Two Phase 3 studies yielded positive results.
A North American partnership is already in place with AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG).
Regional partnerships in China and Korea are already established.
Four more potential catalysts are not presently reflected in Palatin's share price, Pantginis said:
Expectations for a partnership in Europe.
The potential to become the first company to have a first-in-class and best-in-class drug for an unaddressed market.
Expectations for full FDA approval.
A management team with proven execution.
Price Action
Shares of Palatin Technologies were trading higher by 3.33 percent at the time of publication Friday.
Related Links:
Benzinga Pro's 5 Stocks To Watch Today
Benzinga's Top Upgrades, Downgrades For April 6, 2018
Latest Ratings for PTN
Date Firm Action From To
Apr 2018 H.C. Wainwright Initiates Coverage On Buy
Jun 2015 Canaccord Genuity Maintains Buy
Mar 2015 Canaccord Genuity Initiates Coverage on Buy
Chart Update:
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