Zacks Investment Research cut shares of Flexion Therapeutics (NASDAQ:FLXN) from a buy rating to a hold rating in a research note issued to investors on Friday 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. “
FLXN has been the subject of several other reports. BidaskClub upgraded Flexion Therapeutics from a sell rating to a hold rating in a research report on Wednesday, August 15th. ValuEngine cut Flexion Therapeutics from a buy rating to a hold rating in a research report on Friday, September 21st. Finally, Wells Fargo & Co set a $39.00 price target on Flexion Therapeutics and gave the stock a buy rating in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $34.80.
Shares of FLXN stock traded down $0.79 during trading hours on Friday, hitting $14.96. 1,812,275 shares of the company’s stock were exchanged, compared to its average volume of 524,367. The company has a debt-to-equity ratio of 1.02, a current ratio of 8.88 and a quick ratio of 8.74. The company has a market cap of $596.24 million, a price-to-earnings ratio of -3.60 and a beta of 1.18. Flexion Therapeutics has a fifty-two week low of $13.36 and a fifty-two week high of $29.10.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Wednesday, November 7th. The specialty pharmaceutical company reported ($1.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.24) by $0.09. The business had revenue of $6.99 million during the quarter, compared to the consensus estimate of $5.93 million. Flexion Therapeutics had a negative return on equity of 88.21% and a negative net margin of 1,346.87%. Analysts anticipate that Flexion Therapeutics will post -4.63 earnings per share for the current fiscal year.
In other news, insider Michael D. Clayman purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was purchased at an average cost of $17.10 per share, for a total transaction of $85,500.00. Following the completion of the transaction, the insider now owns 83,295 shares of the company’s stock, valued at $1,424,344.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Arkowitz purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were purchased at an average price of $16.56 per share, with a total value of $66,240.00. Following the completion of the transaction, the chief financial officer now directly owns 48,250 shares of the company’s stock, valued at approximately $799,020. The disclosure for this purchase can be found here. 14.59% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Dynamic Technology Lab Private Ltd purchased a new stake in Flexion Therapeutics in the 3rd quarter valued at $217,000. Redmile Group LLC grew its holdings in Flexion Therapeutics by 33.5% in the 2nd quarter. Redmile Group LLC now owns 13,260 shares of the specialty pharmaceutical company’s stock valued at $343,000 after buying an additional 3,330 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Flexion Therapeutics by 22.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,896 shares of the specialty pharmaceutical company’s stock valued at $411,000 after buying an additional 2,960 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in Flexion Therapeutics by 52.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 23,602 shares of the specialty pharmaceutical company’s stock valued at $442,000 after buying an additional 8,084 shares in the last quarter. Finally, Dupont Capital Management Corp grew its holdings in Flexion Therapeutics by 15.9% in the 3rd quarter. Dupont Capital Management Corp now owns 31,688 shares of the specialty pharmaceutical company’s stock valued at $593,000 after buying an additional 4,354 shares in the last quarter.
About Flexion Therapeutics
Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It lead product candidate includes Zilretta, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee.
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