Flexion Therapeutics Inc. (NASDAQ:FLXN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

FLXN has been the topic of several other research reports. BMO Capital Markets reissued a “buy” rating on shares of Flexion Therapeutics in a research report on Tuesday, July 19th. Lake Street Capital reaffirmed a “buy” rating and issued a $38.00 target price on shares of Flexion Therapeutics in a research report on Tuesday, September 6th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. Finally, Vetr raised shares of Flexion Therapeutics from a “buy” rating to a “strong-buy” rating and set a $15.50 target price on the stock in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. Flexion Therapeutics has an average rating of “Buy” and an average target price of $32.31.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Shares of Flexion Therapeutics (NASDAQ:FLXN) opened at 20.43 on Wednesday. Flexion Therapeutics has a 12-month low of $7.56 and a 12-month high of $21.71. The stock has a 50 day moving average of $17.61 and a 200-day moving average of $14.56. The company’s market capitalization is $562.25 million.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.04. Analysts predict that Flexion Therapeutics will post ($2.69) earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Flexion Therapeutics by 27.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 4,307,870 shares of the specialty pharmaceutical company’s stock worth $64,467,000 after buying an additional 927,625 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Flexion Therapeutics by 64.3% in the second quarter. Bank of New York Mellon Corp now owns 1,594,026 shares of the specialty pharmaceutical company’s stock worth $23,855,000 after buying an additional 623,763 shares during the period. BlackRock Fund Advisors raised its stake in shares of Flexion Therapeutics by 17.8% in the second quarter. BlackRock Fund Advisors now owns 752,021 shares of the specialty pharmaceutical company’s stock worth $11,254,000 after buying an additional 113,592 shares during the period. TPG Group Holdings SBS Advisors Inc. acquired a new stake in shares of Flexion Therapeutics during the second quarter worth about $10,689,000. Finally, Vanguard Group Inc. raised its stake in shares of Flexion Therapeutics by 41.8% in the second quarter. Vanguard Group Inc. now owns 696,151 shares of the specialty pharmaceutical company’s stock worth $10,418,000 after buying an additional 205,327 shares during the period. Institutional investors own 68.27% of the company’s stock.

About Flexion Therapeutics

Flexion Therapeutics, Inc is a specialty pharmaceutical company. The Company is focused on the development and commercialization of therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis and post-operative pain. The Company’s portfolio of product candidates addresses the OA pain treatment spectrum, from moderate to severe pain.

5 Day Chart for NASDAQ:FLXN

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