CK Cooper & Company initiated its coverage on Pain Therapeutics PTIE with a Buy rating and a price target of $12.
CK Cooper & Company commented, "Rather than risk the chance that we miss time an impending update on Remoxy, we are initiating coverage of Pain Therapeutics PTIE with a BUY rating and $12.00 target price. Our decision to initiate is driven by our belief the shares will begin to run up once Pfizer makes clear its timing for re-submission of Remoxy's NDA. Though speculative in nature we think the risk-reward ratio is balanced in favor of investors with the stock having about 50% downside risk compared to upside potential that is multiples of its current price."
Pain closed at $4.05 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in