Flexion Therapeutics Inc (NASDAQ:FLXN) shares were up 1.4% on Wednesday . The stock traded as high as $23.92 and last traded at $23.46. Approximately 322,820 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 705,834 shares. The stock had previously closed at $23.80.
Several research analysts have weighed in on FLXN shares. Wells Fargo & Co set a $39.00 price target on Flexion Therapeutics and gave the company a “buy” rating in a report on Monday, October 30th. Zacks Investment Research downgraded Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. ValuEngine upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub downgraded Flexion Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, January 20th. Finally, Northland Securities restated a “buy” rating and set a $40.00 price objective on shares of Flexion Therapeutics in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company’s stock. Flexion Therapeutics presently has an average rating of “Buy” and an average price target of $99.11.
The firm has a market capitalization of $846.17, a price-to-earnings ratio of -6.40 and a beta of 0.91. 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 Flexion Therapeutics news, insider Neil Bodick purchased 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average cost 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.98% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in Flexion Therapeutics during the 4th quarter worth $108,000. Advisor Group Inc. boosted its position in Flexion Therapeutics by 205.9% during the 2nd quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock worth $105,000 after purchasing an additional 3,500 shares during the period. SG Americas Securities LLC purchased a new stake in Flexion Therapeutics during the 3rd quarter worth $135,000. IFP Advisors Inc boosted its position in Flexion Therapeutics by 58.1% during the 3rd quarter. IFP Advisors Inc now owns 8,030 shares of the specialty pharmaceutical company’s stock worth $194,000 after purchasing an additional 2,950 shares during the period. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Flexion Therapeutics during the 3rd quarter worth $235,000. 73.21% of the stock is owned by hedge funds and other institutional investors.
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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