Pain Therapeutics (NASDAQ:PTIE)’s share price dropped 1.2% during mid-day trading on Monday . The stock traded as low as $2.39 and last traded at $2.40, with a volume of 86,478 shares trading hands. The stock had previously closed at $2.43.

Separately, Zacks Investment Research raised shares of Pain Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 31st.

The firm has a 50-day moving average price of $2.49 and a 200 day moving average price of $2.26. The stock’s market capitalization is $111.20 million.

Pain Therapeutics (NASDAQ:PTIE) last posted its earnings results on Tuesday, July 19th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.07. On average, analysts expect that Pain Therapeutics will post ($0.42) EPS for the current fiscal 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.

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