Zacks Investment Research cut shares of Flexion Therapeutics (NASDAQ:FLXN) from a hold rating to a sell rating in a research note released on Wednesday 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. “
A number of other equities analysts have also recently issued reports on FLXN. Royal Bank of Canada set a $44.00 price objective on shares of Flexion Therapeutics and gave the stock a buy rating in a research report on Monday, September 11th. Needham & Company LLC reissued a buy rating and set a $36.00 price objective on shares of Flexion Therapeutics in a research report on Sunday, September 17th. Northland Securities reissued a buy rating and set a $40.00 price objective on shares of Flexion Therapeutics in a research report on Wednesday, October 4th. Wells Fargo & Co set a $39.00 price objective on shares of Flexion Therapeutics and gave the stock a buy rating in a research report on Friday, October 6th. Finally, BMO Capital Markets reissued an outperform rating and set a $37.00 price objective (up previously from $35.00) on shares of Flexion Therapeutics in a research report on Monday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Flexion Therapeutics currently has a consensus rating of Buy and an average target price of $106.25.
Shares of Flexion Therapeutics (FLXN) traded down $0.26 on Wednesday, reaching $25.54. 493,200 shares of the company’s stock were exchanged, compared to its average volume of 641,633. The company has a market capitalization of $950.16, a PE ratio of -7.26 and a beta of 1.14. The company has a quick ratio of 12.93, a current ratio of 12.93 and a debt-to-equity ratio of 0.87. Flexion Therapeutics has a twelve month low of $16.51 and a twelve month high of $32.25.
In related news, insider Michael D. Clayman purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $23.60 per share, for a total transaction of $118,000.00. Following the purchase, the insider now directly owns 35,395 shares in the company, valued at approximately $835,322. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil Bodick purchased 2,700 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were bought at an average price of $24.49 per share, with a total value of $66,123.00. Following the purchase, 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. Company insiders own 15.98% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 valued at $1,131,000. State Street Corp boosted its holdings 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 valued at $27,888,000 after purchasing an additional 549,948 shares during the period. Wells Fargo & Company MN boosted its holdings 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 valued at $3,464,000 after purchasing an additional 46,634 shares during the period. Finally, Gagnon Securities LLC bought a new position in Flexion Therapeutics in the 3rd quarter valued at $3,490,000. 72.78% of the stock is owned by institutional investors.
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Flexion Therapeutics Company Profile
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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