Pain Therapeutics (PTIE) Shares Down 7.7%

Pain Therapeutics, Inc. (NASDAQ:PTIE) was down 7.7% during trading on Thursday . The company traded as low as $8.35 and last traded at $8.51. Approximately 897,272 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,567,459 shares. The stock had previously closed at $9.22.

A number of equities research analysts have recently commented on PTIE shares. Zacks Investment Research cut shares of Pain Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. ValuEngine cut shares of Pain Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st.

The firm has a market cap of $56.13, a PE ratio of -4.15 and a beta of 2.11.

Pain Therapeutics (NASDAQ:PTIE) last released its quarterly earnings data on Wednesday, November 1st. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter. equities analysts forecast that Pain Therapeutics, Inc. will post -1.9 EPS for the current year.

A hedge fund recently bought a new stake in Pain Therapeutics stock. Dimensional Fund Advisors LP acquired a new position in shares of Pain Therapeutics, Inc. (NASDAQ:PTIE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 59,989 shares of the biopharmaceutical company’s stock, valued at approximately $247,000. Dimensional Fund Advisors LP owned about 0.91% of Pain Therapeutics at the end of the most recent quarter. 35.99% of the stock is 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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