Zacks Investment Research cut shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) from a hold rating to a sell rating in a research note published on Tuesday, October 17th.
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. “
Other equities analysts have also issued research reports about the stock. BMO Capital Markets reiterated a buy rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Needham & Company LLC reiterated a buy rating and issued a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th. Janney Montgomery Scott reiterated a buy rating and issued a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada reiterated an outperform rating and issued a $44.00 target price on shares of Flexion Therapeutics in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $88.50.
Shares of Flexion Therapeutics (NASDAQ:FLXN) opened at 21.63 on Tuesday. Flexion Therapeutics has a 52 week low of $15.93 and a 52 week high of $32.25. The company’s market cap is $690.11 million. The firm has a 50-day moving average of $24.85 and a 200 day moving average of $22.40.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Equities analysts expect that Flexion Therapeutics will post ($3.76) EPS for the current fiscal year.
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In related news, insider Yamo Deniz purchased 3,000 shares of Flexion Therapeutics stock in a transaction dated Friday, September 1st. The stock was acquired at an average cost of $24.15 per share, with a total value of $72,450.00. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at $120,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired 5,375 shares of company stock valued at $131,575 over the last ninety days. Insiders own 15.98% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Flexion Therapeutics by 12.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 71,320 shares of the specialty pharmaceutical company’s stock worth $1,725,000 after purchasing an additional 7,800 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Flexion Therapeutics by 27.8% in the third quarter. Pictet Asset Management Ltd. now owns 604,469 shares of the specialty pharmaceutical company’s stock worth $14,616,000 after purchasing an additional 131,673 shares in the last quarter. Ardsley Advisory Partners purchased a new stake in shares of Flexion Therapeutics in the second quarter worth approximately $3,338,000. Wasatch Advisors Inc. lifted its position in shares of Flexion Therapeutics by 58.7% in the second quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock worth $20,588,000 after purchasing an additional 376,745 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Flexion Therapeutics by 69.4% in the second quarter. Public Employees Retirement System of Ohio now owns 41,644 shares of the specialty pharmaceutical company’s stock worth $842,000 after purchasing an additional 17,066 shares in the last quarter. 72.37% of the stock is owned by institutional investors and hedge funds.
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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