Pain Therapeutics (NASDAQ:PTIE) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $4.00 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 9.45% from the stock’s previous close.

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. “

Several other research analysts have also recently issued reports on PTIE. Gabelli cut shares of Pain Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. ValuEngine cut shares of Pain Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.

Shares of Pain Therapeutics (NASDAQ PTIE) traded down 3.0584% on Thursday, reaching $3.6547. 45,558 shares of the company were exchanged. Pain Therapeutics has a 52 week low of $3.39 and a 52 week high of $21.00. The company’s market capitalization is $24.09 million. The company’s 50-day moving average is $3.95 and its 200-day moving average is $1.91.

Pain Therapeutics (NASDAQ:PTIE) last issued its earnings results on Tuesday, April 25th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). On average, equities analysts expect that Pain Therapeutics will post $1.29 EPS for the current fiscal year.

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An institutional investor recently raised its position in Pain Therapeutics stock. Bank of New York Mellon Corp boosted its stake in shares of Pain Therapeutics (NASDAQ:PTIE) by 10.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,792 shares of the biopharmaceutical company’s stock after buying an additional 16,864 shares during the period. Bank of New York Mellon Corp owned approximately 0.38% of Pain Therapeutics worth $154,000 as of its most recent SEC filing.

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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