Zacks Investment Research Upgrades Flexion Therapeutics, Inc. (FLXN) to “Hold”
Flexion Therapeutics, Inc. (NASDAQ:FLXN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
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. “
Several other analysts have also recently issued reports on the company. Cantor Fitzgerald set a $40.00 target price on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Monday, May 22nd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price on shares of Flexion Therapeutics in a research report on Monday, May 15th. ValuEngine upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Janney Montgomery Scott reiterated a “buy” rating and set a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 target price on shares of Flexion Therapeutics in a research report on Friday, July 7th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.09.
Flexion Therapeutics (NASDAQ:FLXN) opened at 24.33 on Monday. The firm’s market capitalization is $776.25 million. The company has a 50 day moving average of $23.03 and a 200 day moving average of $21.52. Flexion Therapeutics has a 1-year low of $15.44 and a 1-year high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by $0.11. On average, equities research analysts anticipate that Flexion Therapeutics will post ($3.70) earnings per share for the current year.
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In other news, insider Michael D. Clayman purchased 5,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was acquired at an average price of $17.23 per share, for a total transaction of $86,150.00. Following the acquisition, the insider now directly owns 20,146 shares of the company’s stock, valued at approximately $347,115.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Stejbach purchased 1,580 shares of the business’s stock in a transaction on Friday, June 16th. The shares were purchased at an average price of $17.02 per share, with a total value of $26,891.60. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. purchased a new position in Flexion Therapeutics during the second quarter valued at $101,000. IFP Advisors Inc boosted its position in Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock valued at $103,000 after buying an additional 1,000 shares in the last quarter. Advisor Group Inc. boosted its position in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after buying an additional 3,500 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in Flexion Therapeutics during the first quarter valued at $279,000. Finally, Asset Management One Co. Ltd. purchased a new position in Flexion Therapeutics during the first quarter valued at $319,000. Institutional investors and hedge funds own 82.75% of the company’s stock.
Flexion Therapeutics Company Profile
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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