Pain Therapeutics, Inc. (NASDAQ:PTIE) was downgraded by equities researchers at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday.

Shares of Pain Therapeutics (PTIE) traded down 1.90% on Friday, reaching $3.61. The company’s stock had a trading volume of 115,887 shares. The stock has a 50-day moving average price of $2.49 and a 200-day moving average price of $1.11. Pain Therapeutics has a 1-year low of $0.51 and a 1-year high of $4.82. The company’s market capitalization is $23.79 million.

Pain Therapeutics (NASDAQ:PTIE) last announced its earnings results on Tuesday, April 25th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, meeting the consensus estimate of ($0.42). On average, equities research analysts forecast that Pain Therapeutics will post $1.29 EPS for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in PTIE. Gabelli Funds LLC increased its position in shares of Pain Therapeutics by 9.4% in the fourth quarter. Gabelli Funds LLC now owns 175,000 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 15,000 shares during the period. Bank of New York Mellon Corp increased its position in shares of Pain Therapeutics by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 172,792 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 16,864 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Pain Therapeutics by 0.5% in the first quarter. Geode Capital Management LLC now owns 205,197 shares of the biopharmaceutical company’s stock valued at $183,000 after buying an additional 1,044 shares during the period. Institutional investors own 44.34% of the company’s stock.

About Pain Therapeutics

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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