Pain Stock Falls On Unusually High Volume (PTIE)

NEW YORK ( TheStreet) -- Pain Therapeutics (Nasdaq: PTIE) is trading at unusually high volume Friday with 3.1 million shares changing hands. It is currently at 6.4 times its average daily volume and trading down $3.89 (-42.1%) at $5.35 as of 9:32 a.m. ET.

Pain has a market cap of $385.1 million and is part of the health care sector and drugs industry. Shares are up 36.9% year to date as of the close of trading on Thursday.

Pain Therapeutics, Inc., a biopharmaceutical company, engages in the research and development of novel drugs. Its lead drug candidate is REMOXY, an abuse-resistant formulation of oxycodone.

TheStreet Ratings rates Pain as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Pain Ratings Report.

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