BidaskClub downgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a strong sell rating in a report issued on Wednesday.
Other equities research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed an outperform rating and issued a $36.00 target price (down previously from $37.00) on shares of Flexion Therapeutics in a research report on Friday, March 9th. Berenberg Bank began coverage on Flexion Therapeutics in a research report on Thursday, February 1st. They issued a buy rating and a $42.00 target price for the company. ValuEngine raised Flexion Therapeutics from a sell rating to a hold rating in a research report on Sunday, December 31st. Finally, Zacks Investment Research downgraded Flexion Therapeutics from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. Flexion Therapeutics has a consensus rating of Buy and an average target price of $99.00.
Shares of FLXN stock opened at $24.03 on Wednesday. The company has a market capitalization of $873.90, a PE ratio of -5.85 and a beta of 0.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 12.96 and a current ratio of 13.02. Flexion Therapeutics has a 12 month low of $16.51 and a 12 month high of $32.25.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Thursday, March 8th. The specialty pharmaceutical company reported ($1.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.27). The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $1.29 million. sell-side analysts anticipate that Flexion Therapeutics will post -4.89 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of FLXN. Advisory Services Network LLC purchased a new stake in shares of Flexion Therapeutics in the fourth quarter worth about $108,000. SG Americas Securities LLC purchased a new position in Flexion Therapeutics in the third quarter valued at about $135,000. State Board of Administration of Florida Retirement System purchased a new position in Flexion Therapeutics in the third quarter valued at about $235,000. Teacher Retirement System of Texas purchased a new position in Flexion Therapeutics in the fourth quarter valued at about $245,000. Finally, Eaton Vance Management boosted its holdings in Flexion Therapeutics by 37.2% in the fourth quarter. Eaton Vance Management now owns 12,900 shares of the specialty pharmaceutical company’s stock valued at $323,000 after purchasing an additional 3,500 shares during the last quarter. 94.46% of the stock is owned by institutional investors.
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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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