Zacks Investment Research upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a hold rating in a report published on Tuesday.
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 research analysts have also commented on the company. Janney Montgomery Scott raised their price objective on Flexion Therapeutics to $570.00 and gave the stock a fair value rating in a research report on Tuesday, October 10th. Wells Fargo & Co set a $39.00 price objective on Flexion Therapeutics and gave the stock a buy rating in a research report on Friday, October 6th. Needham & Company LLC restated a buy rating and set a $36.00 price objective on shares of Flexion Therapeutics in a research report on Sunday, September 17th. Royal Bank of Canada set a $44.00 price objective on Flexion Therapeutics and gave the stock a buy rating in a research report on Sunday, October 29th. Finally, Northland Securities restated a buy rating and set a $40.00 price objective on shares of Flexion Therapeutics in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Flexion Therapeutics currently has an average rating of Buy and a consensus target price of $106.25.
Shares of Flexion Therapeutics (NASDAQ FLXN) traded up $0.47 during midday trading on Tuesday, reaching $26.45. The company’s stock had a trading volume of 653,879 shares, compared to its average volume of 956,921. Flexion Therapeutics has a 12-month low of $16.51 and a 12-month high of $32.25. The firm has a market cap of $992.95, a price-to-earnings ratio of -7.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 12.93 and a quick ratio of 12.93.
In other news, insider Neil Bodick purchased 2,700 shares of Flexion Therapeutics stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the acquisition, the insider now directly owns 64,605 shares in the company, valued at $1,582,176.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Clayman purchased 5,000 shares of Flexion Therapeutics stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of $23.60 per share, with a total value of $118,000.00. Following the completion of the acquisition, the insider now owns 35,395 shares in the company, valued at $835,322. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company’s stock.
Several institutional investors have recently made changes to their positions in FLXN. Schwab Charles Investment Management Inc. lifted its holdings in shares of Flexion Therapeutics by 0.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock valued at $2,047,000 after buying an additional 513 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Flexion Therapeutics during the 2nd quarter valued at about $425,000. JPMorgan Chase & Co. lifted its holdings in shares of Flexion Therapeutics by 46.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 167,350 shares of the specialty pharmaceutical company’s stock valued at $3,384,000 after buying an additional 52,763 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Flexion Therapeutics during the 2nd quarter valued at about $101,000. Finally, Schroder Investment Management Group lifted its holdings in shares of Flexion Therapeutics by 29.3% during the 2nd quarter. Schroder Investment Management Group now owns 509,427 shares of the specialty pharmaceutical company’s stock valued at $10,474,000 after buying an additional 115,413 shares during the last quarter. Institutional investors and hedge funds own 72.78% of the company’s stock.
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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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