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 research report issued 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. “
A number of other equities analysts have also recently commented on the stock. Wells Fargo & Company set a $39.00 price target on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Monday. Royal Bank Of Canada set a $44.00 price target on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Sunday. ValuEngine cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Laidlaw reiterated a “buy” rating and set a $38.00 price objective (up previously from $35.00) on shares of Flexion Therapeutics in a report on Tuesday, October 10th. Finally, Janney Montgomery Scott lifted their price objective on shares of Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $88.50.
Flexion Therapeutics (NASDAQ:FLXN) last released 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).
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In other Flexion Therapeutics news, insider Yamo Deniz purchased 3,000 shares of Flexion Therapeutics stock in a transaction dated Friday, September 1st. The stock was acquired at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $120,750. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 5,375 shares of company stock valued at $131,575. Company insiders own 15.98% of the company’s stock.
Several large investors have recently bought and sold shares of FLXN. Fiduciary Trust Co. bought a new stake in shares of Flexion Therapeutics in the 2nd quarter valued at about $101,000. IFP Advisors Inc raised its holdings in shares of Flexion Therapeutics by 24.5% in the 2nd quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock valued at $103,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Flexion Therapeutics by 205.9% in the 2nd quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after purchasing an additional 3,500 shares in the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Flexion Therapeutics in the 3rd quarter valued at about $235,000. Finally, Voya Investment Management LLC raised its holdings in shares of Flexion Therapeutics by 25.8% in the 2nd quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock valued at $261,000 after purchasing an additional 2,651 shares in the last quarter. Institutional investors and hedge funds own 72.31% 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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