Zacks Investment Research lowered shares of Pain Therapeutics (NASDAQ:PTIE) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

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 downgraded shares of Pain Therapeutics from a sell rating to a strong sell rating in a research report on Friday, June 2nd.

Shares of Pain Therapeutics (PTIE) traded up 2.39% during trading on Friday, hitting $3.85. 47,886 shares of the stock were exchanged. The stock’s market cap is $25.38 million. The stock’s 50 day moving average is $4.09 and its 200-day moving average is $1.58. Pain Therapeutics has a 12-month low of $3.39 and a 12-month high of $21.00.

Pain Therapeutics (NASDAQ:PTIE) last posted its earnings results on Tuesday, April 25th. The biopharmaceutical company reported ($0.42) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.42). Equities research analysts anticipate that Pain Therapeutics will post $1.29 EPS for the current year.

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A hedge fund recently raised its stake in Pain Therapeutics stock. Bank of New York Mellon Corp boosted its position in Pain Therapeutics (NASDAQ:PTIE) by 10.8% during the first quarter, according to its most recent disclosure with the 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 about 0.38% of Pain Therapeutics worth $154,000 at the end of the most recent reporting period.

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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