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Palatin (PTN) closed the most recent trading day at $0.91, moving -1.7% from the previous trading session. This change lagged the S&P 500's 1.5% gain on the day. At the same time, the Dow added 1.48%, and the tech-heavy Nasdaq gained 1.95%.
Prior to today's trading, shares of the biopharmaceutical company had lost 12.33% over the past month. This has lagged the Medical sector's loss of 1.46% and the S&P 500's loss of 4.19% in that time.
Investors will be hoping for strength from PTN as it approaches its next earnings release. The company is expected to report EPS of -$0.02, down 133.33% from the prior-year quarter.
Any recent changes to analyst estimates for PTN should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PTN currently has a Zacks Rank of #2 (Buy).
Digging into valuation, PTN currently has a Forward P/E ratio of 3.41. For comparison, its industry has an average Forward P/E of 24.85, which means PTN is trading at a discount to the group.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Palatin Technologies, Inc. (PTN) : Free Stock Analysis Report
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