Why is Palatin Technologies (PTN) Moving Higher This Morning?

It is often regarded as a fairly sound practice to look into the major gainers during the premarket trading period. It gives a glimpse into the way the market might behave through the rest of the day.

One of the stocks that have broken out strongly during premarket trading this morning is that of Palatin Technologies Inc (NYSE: PTN). The stock has gained considerable momentum and has gone up  7% this morning. In such a situation, it might be worthwhile for investors to perhaps track the stock today.

There has been no recent news about the company that might have triggered the rally this morning. However, it might be a good idea to take a look at its latest financial results that were announced last month. Palatin reported a loss per share of $0.04 for the period and it was higher than $0.02 that had been estimated by analysts. However, it seems that investors have shrugged off the 100% earnings shock.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.


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