Zacks Investment Research upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a hold rating in a report issued on Tuesday morning.
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. “
FLXN has been the subject of a number of other reports. Wells Fargo & Co set a $39.00 price target on Flexion Therapeutics and gave the stock a buy rating in a report on Monday, October 30th. Janney Montgomery Scott upped their price target on Flexion Therapeutics to $570.00 and gave the stock a fair value rating in a report on Tuesday, October 10th. Needham & Company LLC reiterated a buy rating and set a $36.00 price target on shares of Flexion Therapeutics in a report on Sunday, September 17th. Northland Securities restated a buy rating and issued a $40.00 target price on shares of Flexion Therapeutics in a research note on Wednesday, October 4th. Finally, Royal Bank of Canada set a $44.00 target price on Flexion Therapeutics and gave the company a buy rating in a research note on Monday, September 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $106.25.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded up $0.01 during mid-day trading on Tuesday, hitting $25.58. The stock had a trading volume of 512,100 shares, compared to its average volume of 632,367. Flexion Therapeutics has a one year low of $16.51 and a one year high of $32.25. The firm has a market capitalization of $964.05, a price-to-earnings ratio of -7.27 and a beta of 1.14. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87.
In related news, insider Neil Bodick acquired 2,700 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was purchased at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the purchase, the insider now directly owns 64,605 shares of the company’s stock, valued at approximately $1,582,176.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael D. Clayman acquired 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average price of $23.60 per share, with a total value of $118,000.00. Following the completion of the purchase, the insider now directly owns 35,395 shares of the company’s stock, valued at $835,322. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in FLXN. Schwab Charles Investment Management Inc. raised its stake in Flexion Therapeutics by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock worth $2,047,000 after acquiring an additional 513 shares in the last quarter. State of Wisconsin Investment Board acquired a new position in Flexion Therapeutics during the second quarter worth $425,000. JPMorgan Chase & Co. raised its stake in Flexion Therapeutics by 46.0% during the second quarter. JPMorgan Chase & Co. now owns 167,350 shares of the specialty pharmaceutical company’s stock worth $3,384,000 after acquiring an additional 52,763 shares in the last quarter. Fiduciary Trust Co. acquired a new position in Flexion Therapeutics during the second quarter worth $101,000. Finally, Schroder Investment Management Group raised its stake in Flexion Therapeutics by 29.3% during the second quarter. Schroder Investment Management Group now owns 509,427 shares of the specialty pharmaceutical company’s stock worth $10,474,000 after acquiring an additional 115,413 shares in the last quarter. Hedge funds and other institutional investors 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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