Zacks Investment Research lowered shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) from a hold rating to a sell rating in a research report report published on Tuesday, May 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 research analysts have also recently commented on the company. Cantor Fitzgerald set a $37.00 target price on Flexion Therapeutics and gave the company a buy rating in a report on Tuesday, February 7th. Wells Fargo & Company reiterated an outperform rating and set a $30.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 25th. BMO Capital Markets reissued a positive rating and set a $33.00 price target on shares of Flexion Therapeutics in a research note on Tuesday, February 7th. Janney Montgomery Scott reissued a buy rating and set a $30.00 price target on shares of Flexion Therapeutics in a research note on Saturday, March 11th. Finally, Royal Bank Of Canada reissued an outperform rating and set a $44.00 price target on shares of Flexion Therapeutics in a research note on Saturday, March 11th. One equities research analyst has rated the stock with a sell rating, seven have issued 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 price target of $30.60.
Flexion Therapeutics (NASDAQ FLXN) opened at 17.11 on Tuesday. The stock’s 50 day moving average price is $18.48 and its 200 day moving average price is $20.39. Flexion Therapeutics has a 52-week low of $13.10 and a 52-week high of $29.41. The company’s market cap is $543.36 million.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing analysts’ consensus estimates of ($0.73) by $0.02. Analysts expect that Flexion Therapeutics will post ($3.72) earnings per share for the current year.
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In related news, CFO Frederick W. Driscoll sold 3,000 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $23.00, for a total value of $69,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,777 shares in the company, valued at approximately $247,871. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Clayman purchased 5,000 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was bought at an average price of $17.23 per share, with a total value of $86,150.00. Following the completion of the acquisition, the insider now owns 20,146 shares in the company, valued at approximately $347,115.58. The disclosure for this purchase can be found here. Insiders sold a total of 13,000 shares of company stock worth $312,200 over the last ninety days. Corporate insiders own 18.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FLXN. Keybank National Association OH increased its stake in shares of Flexion Therapeutics by 0.7% in the fourth quarter. Keybank National Association OH now owns 10,357 shares of the specialty pharmaceutical company’s stock valued at $197,000 after buying an additional 67 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Flexion Therapeutics during the first quarter valued at $279,000. SECOR Capital Advisors LP acquired a new stake in shares of Flexion Therapeutics during the third quarter valued at $214,000. Asset Management One Co. Ltd. acquired a new stake in shares of Flexion Therapeutics during the first quarter valued at $319,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock valued at $365,000 after buying an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 75.62% of the company’s stock.
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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