PainReform (NASDAQ:PRFX) Shares Cross Above 50-Day Moving Average – Here’s Why

PainReform Ltd. (NASDAQ:PRFX) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $0.87 and traded as high as $0.8870. PainReform shares last traded at $0.8709, with a volume of 72,346 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on PRFX. Wall Street Zen upgraded PainReform to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of PainReform in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

PainReform Stock Up 14.8%

The firm has a market cap of $757,683.00, a price-to-earnings ratio of -0.00 and a beta of 1.16. The business’s fifty day moving average is $0.87 and its two-hundred day moving average is $1.76.

PainReform (NASDAQ:PRFX) last issued its quarterly earnings data on Thursday, September 3rd. The company reported ($1.13) EPS for the quarter. The business had revenue of $0.01 million during the quarter.

About PainReform

PainReform Ltd. (NASDAQ: PRFX) is a clinical-stage specialty pharmaceutical company focused on developing treatments for acute post-operative pain. The company’s work is aimed at addressing pain experienced after surgical procedures and reducing reliance on conventional short-acting analgesics.

PainReform’s lead product candidate, PRF-110, is an extended-release formulation of ropivacaine, a local anesthetic. Designed for administration at the surgical site, PRF-110 is intended to provide prolonged pain relief during the days following surgery.