Palatin Technologies Inc. (PTN)

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H.C. Wainwright & Co's Joseph Pantginis initiated coverage of Palatin Technologies' stock with a Buy rating and $5 price target.

The Thesis

Bremelanotide, a treatment for hypoactive sexual desire disorder in women, offers investors a "derisked opportunity" for four 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.