Zacks Investment Research downgraded shares of Pain Therapeutics (NASDAQ:PTIE) from a buy rating to a hold rating in a report published on Saturday morning.
According to Zacks, “Pain Therapeutics is developing a new generation of opioid painkillers. Opioids are drugs derived from the poppy plant. The company uses technology to reformulate opioid drugs, such as morphine, into new painkillers with improved clinical benefits. The company has four opioid painkillers in Phase II clinical trials. The company believes its drugs offer enhanced pain relief, fewer adverse side effects and reduced tolerance and addiction compared to existing opioid painkillers. “
Separately, ValuEngine cut Pain Therapeutics from a sell rating to a strong sell rating in a report on Friday, December 1st.
Pain Therapeutics (NASDAQ:PTIE) last released its quarterly earnings results on Monday, February 5th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter. research analysts forecast that Pain Therapeutics will post -1.65 earnings per share for the current year.
An institutional investor recently bought a new position in Pain Therapeutics stock. Dimensional Fund Advisors LP purchased a new position in Pain Therapeutics, Inc. (NASDAQ:PTIE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,989 shares of the biopharmaceutical company’s stock, valued at approximately $247,000. Dimensional Fund Advisors LP owned 0.91% of Pain Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 35.64% of the company’s stock.
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Pain Therapeutics Company Profile
Pain Therapeutics, Inc is a biopharmaceutical company. The Company is focused on drug development efforts on disorders of the nervous system, such as chronic pain. The Company’s lead drug candidate, REMOXY, is an abuse-deterrent, oral formulation of oxycodone (CII). The Company’s other products is FENROCK.
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