Flexion Therapeutics (FLXN) Raised to Hold at Zacks Investment Research
Flexion Therapeutics (NASDAQ:FLXN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 research analysts also recently commented on the company. Janney Montgomery Scott boosted their target price on Flexion Therapeutics to $570.00 and gave the stock a “fair value” rating in a research note on Tuesday, October 10th. Wells Fargo & Co set a $39.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a report on Friday, October 6th. Needham & Company LLC restated a “buy” rating and set a $36.00 price target on shares of Flexion Therapeutics in a report on Sunday, September 17th. Royal Bank of Canada set a $44.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, Northland Securities restated a “buy” rating and set a $40.00 price target on shares of Flexion Therapeutics in a report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Flexion Therapeutics has an average rating of “Buy” and an average target price of $106.25.
Shares of Flexion Therapeutics (NASDAQ FLXN) traded up $0.21 during midday trading on Tuesday, reaching $25.79. The company’s stock had a trading volume of 593,700 shares, compared to its average volume of 626,843. The company has a debt-to-equity ratio of 0.87, a quick ratio of 12.93 and a current ratio of 12.93. The firm has a market capitalization of $971.56, a P/E ratio of -7.33 and a beta of 1.14. Flexion Therapeutics has a 12-month low of $16.51 and a 12-month high of $32.25.
In related news, insider Michael D. Clayman bought 5,000 shares of Flexion Therapeutics stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $23.60 per share, for a total transaction of $118,000.00. Following the completion of the acquisition, the insider now directly owns 35,395 shares of the company’s stock, valued at approximately $835,322. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Neil Bodick bought 2,700 shares of Flexion Therapeutics stock in a transaction that occurred on Tuesday, November 21st. The stock was bought at an average price of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the acquisition, the insider now directly owns 64,605 shares of the company’s stock, valued at $1,582,176.45. The disclosure for this purchase can be found here. Insiders own 15.98% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FLXN. Fiduciary Trust Co. bought a new stake in Flexion Therapeutics in the second quarter valued at approximately $101,000. Advisor Group Inc. boosted its holdings in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after acquiring an additional 3,500 shares during the last quarter. SG Americas Securities LLC bought a new stake in Flexion Therapeutics in the third quarter valued at approximately $135,000. IFP Advisors Inc boosted its holdings in Flexion Therapeutics by 58.1% in the third quarter. IFP Advisors Inc now owns 8,030 shares of the specialty pharmaceutical company’s stock valued at $194,000 after acquiring an additional 2,950 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in Flexion Therapeutics in the third quarter valued at approximately $235,000. Institutional investors and hedge funds own 72.78% of the company’s stock.
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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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