Pain Therapeutics (PTIE) Upgraded to Buy at ValuEngine

Pain Therapeutics (NASDAQ:PTIE) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.

Shares of PTIE stock traded down $0.07 on Thursday, hitting $1.22. The company had a trading volume of 340,143 shares, compared to its average volume of 2,935,588. The stock has a market cap of $8.24 million, a price-to-earnings ratio of -0.67 and a beta of 1.82. Pain Therapeutics has a twelve month low of $0.81 and a twelve month high of $12.80.

Pain Therapeutics (NASDAQ:PTIE) last announced its earnings results on Monday, October 29th. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.50.

In other Pain Therapeutics news, major shareholder Armistice Capital Master Fund sold 1,256,000 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $1.02, for a total value of $1,281,120.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Armistice Capital, Llc sold 1,200,000 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $1.02, for a total value of $1,224,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,968,660 shares of company stock worth $3,176,705. 31.40% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Pain Therapeutics stock. Northern Trust Corp boosted its position in Pain Therapeutics, Inc. (NASDAQ:PTIE) by 152.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,144 shares of the biopharmaceutical company’s stock after acquiring an additional 23,062 shares during the period. Northern Trust Corp owned 0.55% of Pain Therapeutics worth $270,000 as of its most recent SEC filing. 32.88% of the stock is currently owned by hedge funds and other institutional investors.

About Pain Therapeutics

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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