C.K. Cooper Lowers Pain Therapeutics to Hold (PTIE)

Pain Therapeutics (NASDAQ: PTIE) was downgraded by C.K. Cooper from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Pain Therapeutics traded down 36.62% on Thursday, hitting $2.96. Pain Therapeutics has a 1-year low of $3.41 and a 1-year high of $5.86. The company’s market cap is $132.6 million.

Pain Therapeutics, Inc. is a biopharmaceutical company that develops drugs. As of December 31, 2009, the Company had four drug candidates in clinical programs, including REMOXY, PTI-202, PTI-721 and a radio-labeled monoclonal antibody to treat metastatic melanoma.