Pain Therapeutics, Inc. (PTIE) Reaches $7.07 After 4.00% Down Move; Fred Alger Management Lowered Philip Morris International (PM) Stake

January 16, 2018 - By Hazel Jackson

The stock of Pain Therapeutics, Inc. (NASDAQ:PTIE) is a huge mover today! The stock decreased 9.36% or $0.73 during the last trading session, reaching $7.07. About 201,002 shares traded. Pain Therapeutics, Inc. (NASDAQ:PTIE) has declined 72.83% since January 16, 2017 and is downtrending. It has underperformed by 89.53% the S&P500.The move comes after 9 months negative chart setup for the $46.63 million company. It was reported on Jan, 16 by Barchart.com. We have $6.79 PT which if reached, will make NASDAQ:PTIE worth $1.87M less.

Fred Alger Management Inc decreased Philip Morris International (PM) stake by 44.25% reported in 2017Q3 SEC filing. Fred Alger Management Inc sold 921,375 shares as Philip Morris International (PM)’s stock rose 10.69%. The Fred Alger Management Inc holds 1.16 million shares with $128.88 million value, down from 2.08 million last quarter. Philip Morris International now has $162.68B valuation. The stock increased 0.23% or $0.24 during the last trading session, reaching $104.74. About 3.52 million shares traded. Philip Morris International Inc. (NYSE:PM) has risen 16.65% since January 16, 2017 and is uptrending. It has underperformed by 0.05% the S&P500.

Pain Therapeutics, Inc., a biopharmaceutical company, develops drugs for treating nervous system in the United States. The company has market cap of $46.63 million. The companyÂ’s lead drug candidate is REMOXY, a proprietary abuse-deterrent oral formulation of oxycodone for pain relief. It currently has negative earnings. It also develops FENROCK, a proprietary abuse-deterrent transdermal pain patch for pain relief; and PTI-125, a small molecule drug candidate to treat AlzheimerÂ’s disease and other neurological disorders.

Analysts await Philip Morris International Inc. (NYSE:PM) to report earnings on February, 1. They expect $1.36 earnings per share, up 23.64% or $0.26 from last year’s $1.1 per share. PM’s profit will be $2.11B for 19.25 P/E if the $1.36 EPS becomes a reality. After $1.27 actual earnings per share reported by Philip Morris International Inc. for the previous quarter, Wall Street now forecasts 7.09% EPS growth.

Fred Alger Management Inc increased Burlington Stores Inc (NYSE:BURL) stake by 13,796 shares to 78,906 valued at $7.53M in 2017Q3. It also upped Gopro Inc Cl A (NASDAQ:GPRO) stake by 40,163 shares and now owns 862,383 shares. Cognizant Tech Solutions Crp (NASDAQ:CTSH) was raised too.

Among 19 analysts covering Philip Morris International (NYSE:PM), 12 have Buy rating, 0 Sell and 7 Hold. Therefore 63% are positive. Philip Morris International had 49 analyst reports since August 24, 2015 according to SRatingsIntel. The firm has “Overweight” rating by JP Morgan given on Friday, June 17. Societe Generale upgraded Philip Morris International Inc. (NYSE:PM) on Friday, October 20 to “Buy” rating. Stifel Nicolaus maintained Philip Morris International Inc. (NYSE:PM) rating on Monday, July 17. Stifel Nicolaus has “Buy” rating and $13400 target. As per Tuesday, April 19, the company rating was maintained by JP Morgan. On Tuesday, October 10 the stock rating was maintained by Wells Fargo with “Buy”. The stock of Philip Morris International Inc. (NYSE:PM) has “Outperform” rating given on Tuesday, March 8 by BNP Paribas. Stifel Nicolaus maintained Philip Morris International Inc. (NYSE:PM) rating on Thursday, August 31. Stifel Nicolaus has “Buy” rating and $134.0 target. CLSA upgraded Philip Morris International Inc. (NYSE:PM) on Monday, November 14 to “Buy” rating. On Thursday, April 21 the stock rating was upgraded by Societe Generale to “Hold”. Piper Jaffray maintained Philip Morris International Inc. (NYSE:PM) rating on Friday, August 18. Piper Jaffray has “Buy” rating and $134.0 target.

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