Flexion Therapeutics, Inc. (NASDAQ:FLXN) Upgraded at Zacks Investment Research

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.

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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.

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