Flexion Therapeutics (NASDAQ:FLXN) Lifted to Hold at Zacks Investment Research

Flexion Therapeutics (NASDAQ:FLXN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, January 9th.

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 equities analysts have also recently issued reports on FLXN. Royal Bank of Canada set a $44.00 target price on Flexion Therapeutics and gave the stock a “buy” rating in a report on Monday, September 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price target on shares of Flexion Therapeutics in a research report on Sunday, September 17th. Northland Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Flexion Therapeutics in a research report on Wednesday, October 4th. Wells Fargo & Co set a $39.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $37.00 price target (up previously from $35.00) on shares of Flexion Therapeutics in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $99.11.

Flexion Therapeutics (FLXN) opened at $22.31 on Tuesday. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87. Flexion Therapeutics has a 1-year low of $16.51 and a 1-year high of $32.25. The stock has a market capitalization of $852.18, a PE ratio of -6.34 and a beta of 1.14.

Flexion Therapeutics (NASDAQ:FLXN) last issued its earnings results on Monday, November 6th. The specialty pharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.98) by ($0.09). sell-side analysts expect that Flexion Therapeutics will post -3.84 EPS for the current year.

In other news, insider Neil Bodick bought 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average price of $24.49 per share, with a total value of $66,123.00. Following the transaction, the insider now owns 64,605 shares in the company, valued at $1,582,176.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Clayman bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $23.60 per share, for a total transaction of $118,000.00. Following the transaction, the insider now owns 35,395 shares in the company, valued at approximately $835,322. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. acquired a new stake in Flexion Therapeutics in the 2nd quarter valued at approximately $101,000. Advisor Group Inc. grew its stake in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after purchasing an additional 3,500 shares in the last quarter. SG Americas Securities LLC bought a new position in Flexion Therapeutics in the third quarter valued at approximately $135,000. IFP Advisors Inc grew its stake in Flexion Therapeutics by 58.1% in the third quarter. IFP Advisors Inc now owns 8,030 shares of the specialty pharmaceutical company’s stock valued at $194,000 after purchasing an additional 2,950 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in Flexion Therapeutics in the third quarter valued at approximately $235,000. 72.78% of the stock is currently owned by institutional investors and hedge funds.

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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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