First Eagle Investment Management LLC maintained its position in Pain Therapeutics (NASDAQ:PTIE) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,602,658 shares of the biopharmaceutical company’s stock at the end of the third quarter. First Eagle Investment Management LLC owned approximately 14.43% of Pain Therapeutics worth $6,602,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its position in shares of Pain Therapeutics by 108.8% in the second quarter. Brandes Investment Partners LP now owns 78,758 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 41,039 shares during the period. Acadian Asset Management LLC boosted its position in shares of Pain Therapeutics by 26.3% in the third quarter. Acadian Asset Management LLC now owns 443,430 shares of the biopharmaceutical company’s stock valued at $444,000 after buying an additional 92,358 shares during the period. Bridgeway Capital Management Inc. boosted its position in shares of Pain Therapeutics by 29.8% in the second quarter. Bridgeway Capital Management Inc. now owns 435,853 shares of the biopharmaceutical company’s stock valued at $955,000 after buying an additional 100,000 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Pain Therapeutics by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,454,358 shares of the biopharmaceutical company’s stock valued at $3,185,000 after buying an additional 46,804 shares during the period. 45.23% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Pain Therapeutics (NASDAQ:PTIE)

Shares of Pain Therapeutics (NASDAQ:PTIE) traded down 3.77% during mid-day trading on Wednesday, hitting $0.65. The stock had a trading volume of 113,098 shares. Pain Therapeutics has a 12 month low of $0.51 and a 12 month high of $3.00. The firm’s market cap is $29.99 million. The stock’s 50-day moving average is $0.65 and its 200 day moving average is $1.84.

Pain Therapeutics (NASDAQ:PTIE) last released its quarterly earnings results on Thursday, October 20th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Equities research analysts predict that Pain Therapeutics will post ($0.38) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “First Eagle Investment Management LLC Continues to Hold Position in Pain Therapeutics (PTIE)” was first posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2016/11/30/first-eagle-investment-management-llc-continues-to-hold-position-in-pain-therapeutics-ptie.html.

Several brokerages have issued reports on PTIE. Zacks Investment Research cut Pain Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. Gabelli cut Pain Therapeutics from a “buy” rating to a “hold” rating and set a $2.50 target price on the stock. in a research report on Tuesday, September 13th.

Pain Therapeutics Company Profile

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.

5 Day Chart for NASDAQ:PTIE

Receive News & Stock Ratings for Pain Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pain Therapeutics and related stocks with our FREE daily email newsletter.