Flexion Therapeutics Inc (NASDAQ:FLXN) fell 8.2% during trading on Wednesday . The company traded as low as $10.76 and last traded at $10.94, 451,688 shares changed hands during mid-day trading. A decline of 29% from the average session volume of 634,376 shares. The stock had previously closed at $11.92.

A number of research firms have commented on FLXN. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Benchmark upgraded shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Thursday, May 9th. BidaskClub upgraded shares of Flexion Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of Flexion Therapeutics in a research note on Thursday, May 9th. Finally, Zacks Investment Research upgraded shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $23.57.

The company has a quick ratio of 7.33, a current ratio of 7.80 and a debt-to-equity ratio of 3.95. The company has a 50 day moving average price of $10.72. The stock has a market cap of $454.24 million, a price-to-earnings ratio of -2.44 and a beta of 1.37.

Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.10. Flexion Therapeutics had a negative net margin of 368.31% and a negative return on equity of 175.29%. The business had revenue of $16.95 million for the quarter, compared to analyst estimates of $14.03 million. Analysts predict that Flexion Therapeutics Inc will post -3.99 earnings per share for the current year.

In other news, Director C Ann Merrifield purchased 8,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $12.64 per share, for a total transaction of $101,120.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $126,400. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael D. Clayman purchased 2,317 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $10.85 per share, for a total transaction of $25,139.45. Following the completion of the purchase, the insider now owns 72,249 shares of the company’s stock, valued at $783,901.65. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 14,817 shares of company stock worth $175,364. Company insiders own 16.01% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its holdings in Flexion Therapeutics by 0.3% during the second quarter. Northern Trust Corp now owns 448,993 shares of the specialty pharmaceutical company’s stock worth $5,522,000 after buying an additional 1,529 shares in the last quarter. Quantamental Technologies LLC boosted its holdings in Flexion Therapeutics by 310.1% during the second quarter. Quantamental Technologies LLC now owns 3,449 shares of the specialty pharmaceutical company’s stock worth $42,000 after buying an additional 2,608 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Flexion Therapeutics by 22.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 15,300 shares of the specialty pharmaceutical company’s stock worth $343,000 after buying an additional 2,800 shares in the last quarter. American Century Companies Inc. boosted its holdings in Flexion Therapeutics by 2.1% during the fourth quarter. American Century Companies Inc. now owns 175,780 shares of the specialty pharmaceutical company’s stock worth $1,990,000 after buying an additional 3,666 shares in the last quarter. Finally, Aperio Group LLC purchased a new stake in Flexion Therapeutics during the second quarter worth about $46,000. 89.12% of the stock is currently owned by hedge funds and other institutional investors.

About Flexion Therapeutics (NASDAQ:FLXN)

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee in the United States.

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