Pain Therapeutics (NASDAQ:PTIE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $8.25 target price on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 13.17% from the stock’s current price.
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 research note on Friday, December 1st.
Pain Therapeutics (NASDAQ:PTIE) last issued its quarterly earnings data on Monday, February 5th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter. equities analysts forecast that Pain Therapeutics will post -1.65 EPS for the current year.
A hedge fund recently bought a new stake in Pain Therapeutics stock. Dimensional Fund Advisors LP acquired a new stake in shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 59,989 shares of the biopharmaceutical company’s stock, valued at approximately $247,000. Dimensional Fund Advisors LP owned approximately 0.91% of Pain Therapeutics at the end of the most recent quarter. 35.31% of the stock is currently owned by institutional investors and hedge funds.
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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.
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