Pain Therapeutics (PTIE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Pain Therapeutics (NASDAQ:PTIE) from a buy rating to a hold rating in a research note issued to investors on Wednesday 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 lowered Pain Therapeutics from a sell rating to a strong sell rating in a research report on Thursday, March 1st.

Shares of NASDAQ:PTIE opened at $7.83 on Wednesday. Pain Therapeutics has a 1 year low of $3.10 and a 1 year high of $12.80.

Pain Therapeutics (NASDAQ:PTIE) last announced its earnings results on Monday, February 5th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter. analysts anticipate that Pain Therapeutics will post -1.65 earnings per share for the current fiscal year.

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Pain Therapeutics Company Profile

Pain Therapeutics, Inc develops drugs for nervous system disorders in the United States. The company's lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone to treat severe chronic pain. It is also developing FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; PTI-125, a small molecule drug candidate to treat Alzheimer's disease; and PTI-125DX, a blood-based diagnostic/biomarker to detect Alzheimer's disease.

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