Pain Therapeutics (PTIE) was Downgraded by Gabelli & Co to ” Hold” and the brokerage firm has set the Price Target at $2.50. Earlier the firm had a rating of “Buy ” on the company shares. Gabelli & Co advised their investors in a research report released on Sep 13, 2016.
Pain Therapeutics opened for trading at $2.41 and hit $2.67 on the upside on Monday, eventually ending the session at $2.56, with a gain of 3.23% or 0.08 points. The heightened volatility saw the trading volume jump to 180,406 shares. Company has a market cap of $118 M.
Pain Therapeutics Inc. is a biopharmaceutical company that develops drugs. The Companys lead drug candidate REMOXY is an extended-release oral formulation of oxycodone for the management of moderate-to-severe pain when a continuous around-the-clock opioid analgesic is needed for an extended period of time. REMOXY is a controlled-release oral capsule form of oxycodone in a viscous liquid formulation matrix that includes excipients. REMOXYs capsule dosage form provides therapeutic drug levels of oxycodone on a twice-daily dosing schedule while resisting the increases in plasma levels of oxycodone associated with certain common methods of abuse and misuse. The Companys drug candidate FENROCK is an abuse-deterrent transdermal pain patch in the pre-Investigational New Drug-stage of development.