Recap: Palatin Techs Q1 Earnings
Portfolio Pulse from Benzinga Insights
Palatin Technologies (AMEX:PTN) reported Q1 earnings with an EPS of $-0.48, missing estimates by 17.07% compared to the expected $-0.41. However, revenue increased by $1.24 million from the same period last year. Despite missing EPS estimates last quarter, PTN's share price increased by 0.67% the following day. Historical earnings performance shows a pattern of not meeting EPS estimates.
November 14, 2023 | 12:40 pm
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Palatin Technologies reported a larger than expected loss per share for Q1 but showed an increase in revenue year-over-year.
While PTN missed the EPS estimate, which could be seen negatively by investors, the increase in revenue suggests some positive business momentum. Historically, the stock price increased the day after missing EPS last quarter, indicating that the market may not react strongly to the earnings miss. The score is neutral due to these mixed signals.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100