Zacks Investment Research Lowers Flexion Therapeutics Inc. (FLXN) to Sell
Flexion Therapeutics Inc. (NASDAQ:FLXN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
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 subject of several other research reports. Vetr raised Flexion Therapeutics from a “buy” rating to a “strong-buy” rating and set a $15.50 price objective for the company in a research report on Monday, June 13th. BMO Capital Markets assumed coverage on Flexion Therapeutics in a research report on Tuesday, June 28th. They set an “outperform” rating and a $35.00 price objective for the company. Janney Montgomery Scott reissued a “buy” rating and set a $30.00 price objective on shares of Flexion Therapeutics in a research report on Friday, July 1st. Wells Fargo & Co. reissued a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. One investment 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. Flexion Therapeutics has an average rating of “Buy” and an average price target of $32.31.
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Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down 7.29% during trading on Tuesday, hitting $18.96. 228,506 shares of the company were exchanged. The company has a 50 day moving average of $17.75 and a 200-day moving average of $14.81. Flexion Therapeutics has a 1-year low of $7.56 and a 1-year high of $21.71. The stock’s market capitalization is $521.80 million.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.04. On average, analysts forecast that Flexion Therapeutics will post ($2.69) earnings per share for the current year.
Several institutional investors have recently modified their holdings of FLXN. American International Group Inc. increased its stake in Flexion Therapeutics by 8.2% in the second quarter. American International Group Inc. now owns 10,656 shares of the specialty pharmaceutical company’s stock valued at $159,000 after buying an additional 810 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Flexion Therapeutics during the second quarter valued at approximately $176,000. Dynamic Technology Lab Private Ltd acquired a new stake in Flexion Therapeutics during the second quarter valued at approximately $179,000. Amici Capital LLC acquired a new stake in Flexion Therapeutics during the first quarter valued at approximately $184,000. Finally, A.R.T. Advisors LLC acquired a new stake in Flexion Therapeutics during the first quarter valued at approximately $188,000. Hedge funds and other 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.
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