Zacks Investment Research upgraded shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) from a sell rating to a hold rating in a report issued on Thursday, October 26th.
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 research analysts also recently commented on FLXN. Janney Montgomery Scott reiterated a buy rating and set a $35.00 price objective (up from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a buy rating and issued a $44.00 price target on shares of Flexion Therapeutics in a research report on Friday, July 7th. BMO Capital Markets reaffirmed a buy rating on shares of Flexion Therapeutics in a report on Friday, August 11th. Needham & Company LLC reissued a buy rating and set a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a research note on Thursday, August 10th. Finally, Wells Fargo & Company set a $39.00 target price on shares of Flexion Therapeutics and gave the company a buy rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Flexion Therapeutics presently has an average rating of Buy and an average target price of $98.33.
Flexion Therapeutics (NASDAQ:FLXN) traded up $0.14 during trading on Thursday, hitting $23.99. 983,200 shares of the stock traded hands, compared to its average volume of 1,872,727. Flexion Therapeutics has a 52 week low of $15.96 and a 52 week high of $32.25. The company has a quick ratio of 18.29, a current ratio of 12.93 and a debt-to-equity ratio of 0.87.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/12/flexion-therapeutics-inc-flxn-upgraded-by-zacks-investment-research-to-hold.html.
In related news, insider Yamo Deniz purchased 3,000 shares of Flexion Therapeutics stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at $120,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Clayman acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average cost of $23.60 per share, with a total value of $118,000.00. Following the completion of the acquisition, the insider now directly owns 35,395 shares in the company, valued at approximately $835,322. The disclosure for this purchase can be found here. Insiders have purchased 10,375 shares of company stock worth $249,575 in the last ninety days. 15.98% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. 1492 Capital Management LLC bought a new stake in shares of Flexion Therapeutics in the 3rd quarter valued at about $456,000. Cadence Capital Management LLC increased its stake in Flexion Therapeutics by 5.1% during the 3rd quarter. Cadence Capital Management LLC now owns 54,002 shares of the specialty pharmaceutical company’s stock worth $1,306,000 after purchasing an additional 2,612 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in Flexion Therapeutics during the 3rd quarter worth approximately $496,000. SG Americas Securities LLC bought a new stake in Flexion Therapeutics during the 3rd quarter worth approximately $135,000. Finally, Russell Investments Group Ltd. increased its stake in Flexion Therapeutics by 2,458.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 127,430 shares of the specialty pharmaceutical company’s stock worth $3,081,000 after purchasing an additional 122,450 shares in the last quarter. 72.04% of the stock is owned by institutional investors.
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.
Get a free copy of the Zacks research report on Flexion Therapeutics (FLXN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flexion Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.