Flexion Therapeutics (FLXN) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a hold rating in a research report report published on Wednesday morning.
Several other equities analysts have also recently issued reports on FLXN. Zacks Investment Research cut Flexion Therapeutics from a buy rating to a hold rating in a research note on Monday, August 13th. ValuEngine raised Flexion Therapeutics from a hold rating to a buy rating in a research note on Friday, April 27th. Benchmark assumed coverage on Flexion Therapeutics in a research note on Thursday, June 28th. They set a buy rating and a $39.00 target price on the stock. Finally, Wells Fargo & Co reissued a buy rating on shares of Flexion Therapeutics in a research note on Saturday, May 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $91.50.
Shares of FLXN traded up $0.02 during mid-day trading on Wednesday, hitting $21.93. 344,644 shares of the company’s stock traded hands, compared to its average volume of 611,664. The company has a debt-to-equity ratio of 0.80, a quick ratio of 12.78 and a current ratio of 12.90. Flexion Therapeutics has a 1 year low of $19.06 and a 1 year high of $32.25. The stock has a market capitalization of $868.25 million, a PE ratio of -5.27 and a beta of 0.76.
In related news, insider Neil Bodick sold 50,000 shares of Flexion Therapeutics stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $25.07, for a total transaction of $1,253,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO David Arkowitz purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average price of $23.42 per share, for a total transaction of $93,680.00. Following the completion of the transaction, the chief financial officer now directly owns 44,250 shares of the company’s stock, valued at $1,036,335. The disclosure for this purchase can be found here. Insiders own 14.59% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Rubric Capital Management LP boosted its holdings in Flexion Therapeutics by 108.6% in the first quarter. Rubric Capital Management LP now owns 2,023,704 shares of the specialty pharmaceutical company’s stock worth $45,351,000 after acquiring an additional 1,053,704 shares in the last quarter. Millennium Management LLC bought a new stake in Flexion Therapeutics in the first quarter worth $15,511,000. Artisan Partners Limited Partnership bought a new stake in Flexion Therapeutics in the second quarter worth $14,057,000. Zweig DiMenna Associates LLC bought a new stake in Flexion Therapeutics in the second quarter worth $5,765,000. Finally, BlackRock Inc. boosted its holdings in Flexion Therapeutics by 8.3% in the second quarter. BlackRock Inc. now owns 2,829,477 shares of the specialty pharmaceutical company’s stock worth $73,144,000 after acquiring an additional 217,510 shares in the last quarter. Institutional investors own 98.22% of the company’s stock.
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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