The current macro environment has seen biotechs’ valuations soar on the back of providing possible treatments or vaccines for COVID-19. However, the uptick hasn’t been industry wide. Take micro-cap Palatin (PTN) for example, which has experienced no such rally. In fact, Palatin shares have declined by 42% year-to-date.
However, H.C. Wainwright analyst Joseph Pantginis suggests there is plenty of upside in the cards for the small biotech stock. Pantginis kept a Buy rating on PTN, along with a $2 price target. Expect massive upside of 341% over the next year, should the 5-star analyst’s thesis play out. (To watch Pantginis’ track record, click here)
Yesterday, Palatin announced F3Q20 results, reporting EPS of -$0.02, in line with the Street’s expectations. The company rounded out the quarter with $88.9