Pain Therapeutics (NASDAQ:PTIE) shares dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $2.11 and last traded at $2.24, with a volume of 58,130 shares trading hands. The stock had previously closed at $2.25.

Separately, Zacks Investment Research upgraded Pain Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 31st.

The stock has a 50-day moving average price of $2.19 and a 200 day moving average price of $2.05. The firm’s market cap is $102.89 million.

Pain Therapeutics (NASDAQ:PTIE) last released its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. On average, analysts anticipate that Pain Therapeutics will post ($0.57) EPS for the current year.

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.