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.
H.C. Wainwright & Co's Joseph Pantginis initiated coverage of Palatin Technologies' stock with a Buy rating and $5 price target.
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.
Shares of Palatin Technologies were trading higher by 3.33 percent at the time of publication Friday.
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Latest Ratings for PTN
|Apr 2018||H.C. Wainwright||Initiates Coverage On||Buy|
|Jun 2015||Canaccord Genuity||Maintains||Buy|
|Mar 2015||Canaccord Genuity||Initiates Coverage on||Buy|
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