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.
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.
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