Flexion Therapeutics (FLXN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Flexion Therapeutics, Inc. is a specialty pharmaceutical company. It is focused on the development and commercialization of injectable pain therapies. The Company is targeting anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It operates in the United States. The Company’s product candidate, FX006, is an injectable intra-articular, meaning in the joint, sustained-release treatment for patients with moderate to severe OA pain. It is developing two additional product candidates, FX007 for post-operative pain and FX005 to treat end-stage OA patients. Flexion Therapeutics, Inc. is headquartered in Burlington, Massachusetts. “

Several other equities research analysts have also weighed in on FLXN. ValuEngine upgraded Flexion Therapeutics from a sell rating to a hold rating in a report on Sunday, December 31st. Needham & Company LLC boosted their target price on Flexion Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a report on Monday, October 9th. Northland Securities restated a buy rating and issued a $40.00 target price on shares of Flexion Therapeutics in a report on Friday, November 10th. BMO Capital Markets restated an outperform rating and issued a $37.00 target price (up from $35.00) on shares of Flexion Therapeutics in a report on Monday, October 9th. Finally, Royal Bank of Canada set a $44.00 target price on Flexion Therapeutics and gave the stock a buy rating in a report on Monday, September 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $106.25.

Flexion Therapeutics (NASDAQ:FLXN) traded up $0.47 on Tuesday, reaching $26.45. The company had a trading volume of 653,879 shares, compared to its average volume of 956,921. Flexion Therapeutics has a 12-month low of $16.51 and a 12-month high of $32.25. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87. The firm has a market cap of $992.95, a price-to-earnings ratio of -7.51 and a beta of 1.14.

In other Flexion Therapeutics news, insider Michael D. Clayman purchased 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $23.60 per share, with a total value of $118,000.00. Following the transaction, the insider now directly owns 35,395 shares in the company, valued at approximately $835,322. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Neil Bodick purchased 2,700 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the transaction, the insider now owns 64,605 shares in the company, valued at $1,582,176.45. The disclosure for this purchase can be found here. Insiders own 15.98% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Flexion Therapeutics by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock worth $21,321,000 after buying an additional 59,143 shares during the period. Scholtz & Company LLC bought a new position in Flexion Therapeutics in the 2nd quarter worth approximately $1,131,000. State Street Corp increased its position in Flexion Therapeutics by 66.3% in the 2nd quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock worth $27,888,000 after buying an additional 549,948 shares during the period. Wells Fargo & Company MN increased its position in Flexion Therapeutics by 37.4% in the 2nd quarter. Wells Fargo & Company MN now owns 171,351 shares of the specialty pharmaceutical company’s stock worth $3,464,000 after buying an additional 46,634 shares during the period. Finally, Gagnon Securities LLC bought a new position in Flexion Therapeutics in the 3rd quarter worth approximately $3,490,000. 72.78% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Flexion Therapeutics (FLXN) Upgraded to “Hold” at Zacks Investment Research” was reported by Stock Observer and is the sole property of of Stock Observer. If you are reading this article on another site, it was illegally stolen and republished in violation of international copyright & trademark law. The correct version of this article can be accessed at https://www.thestockobserver.com/2018/01/13/flexion-therapeutics-flxn-upgraded-to-hold-at-zacks-investment-research.html.

About Flexion Therapeutics

Flexion Therapeutics, Inc is a United States-based specialty pharmaceutical company. The Company is focused on the development and commercialization of local therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis. The Company’s lead product candidate, Zilretta, is a late-stage, injectable, extended-release, intra-articular (IA) investigational steroid.

Get a free copy of the Zacks research report on Flexion Therapeutics (FLXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Receive News & Ratings for Flexion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply