Flexion Therapeutics, Inc. (NASDAQ:FLXN) Rating Lowered to Sell at Zacks Investment Research
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 Thursday.
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 research analysts also recently weighed in on FLXN. Royal Bank Of Canada set a $44.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a research note on Sunday, March 26th. Janney Montgomery Scott reissued a “buy” rating and set a $35.00 price target (up previously from $30.00) on shares of Flexion Therapeutics in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of Flexion Therapeutics in a research note on Saturday, March 25th. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research note on Tuesday, June 27th. Finally, ValuEngine raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.10.
Flexion Therapeutics (NASDAQ:FLXN) traded down 0.87% on Thursday, reaching $23.90. 859,772 shares of the company’s stock were exchanged. The firm’s market capitalization is $758.99 million. The firm has a 50-day moving average of $18.40 and a 200-day moving average of $20.49. Flexion Therapeutics has a 12 month low of $15.00 and a 12 month high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings data on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.73) by $0.02. On average, equities analysts expect that Flexion Therapeutics will post ($3.56) earnings per share for the current year.
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In related news, Director Mark Stejbach bought 1,580 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average cost of $17.02 per share, for a total transaction of $26,891.60. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael D. Clayman bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average price of $17.23 per share, with a total value of $86,150.00. Following the completion of the purchase, the insider now owns 20,146 shares in the company, valued at $347,115.58. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Flexion Therapeutics by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 2,124,208 shares of the specialty pharmaceutical company’s stock worth $57,163,000 after buying an additional 175,879 shares during the period. Vanguard Group Inc. increased its position in shares of Flexion Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 995,321 shares of the specialty pharmaceutical company’s stock valued at $26,784,000 after buying an additional 32,479 shares during the last quarter. State Street Corp boosted its stake in Flexion Therapeutics by 111.8% in the first quarter. State Street Corp now owns 829,254 shares of the specialty pharmaceutical company’s stock valued at $22,316,000 after buying an additional 437,648 shares during the period. Driehaus Capital Management LLC boosted its stake in Flexion Therapeutics by 16.3% in the first quarter. Driehaus Capital Management LLC now owns 523,060 shares of the specialty pharmaceutical company’s stock valued at $14,076,000 after buying an additional 73,353 shares during the period. Finally, Pictet Asset Management Ltd. purchased a new stake in Flexion Therapeutics during the first quarter valued at $7,323,000. Institutional investors own 75.00% of the company’s stock.
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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