Flexion Therapeutics (FLXN) Downgraded by BidaskClub to “Strong Sell”

Flexion Therapeutics (NASDAQ:FLXN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Saturday.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. Needham & Company LLC boosted their price target on shares of Flexion Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Northland Securities reissued a “buy” rating and set a $40.00 price target on shares of Flexion Therapeutics in a research note on Friday, November 10th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $37.00 price target (up from $35.00) on shares of Flexion Therapeutics in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Flexion Therapeutics has a consensus rating of “Buy” and an average price target of $106.25.

Shares of Flexion Therapeutics (NASDAQ FLXN) traded up $0.74 during midday trading on Friday, hitting $23.41. 721,523 shares of the company’s stock were exchanged, compared to its average volume of 919,792. Flexion Therapeutics has a one year low of $16.51 and a one year high of $32.25. The company has a market capitalization of $907.52, a P/E ratio of -6.65 and a beta of 1.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 12.93 and a current ratio of 12.93.

Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Monday, November 6th. The specialty pharmaceutical company reported ($1.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.98) by ($0.09). research analysts expect that Flexion Therapeutics will post -3.84 earnings per share for the current year.

In other news, insider Neil Bodick acquired 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average price of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the acquisition, the insider now owns 64,605 shares in the company, valued at $1,582,176.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael D. Clayman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were purchased at an average price of $23.60 per share, with a total value of $118,000.00. Following the acquisition, the insider now owns 35,395 shares of the company’s stock, valued at approximately $835,322. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of FLXN. Schwab Charles Investment Management Inc. grew its holdings in Flexion Therapeutics by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock valued at $2,047,000 after purchasing an additional 513 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Flexion Therapeutics by 46.0% in the second quarter. JPMorgan Chase & Co. now owns 167,350 shares of the specialty pharmaceutical company’s stock valued at $3,384,000 after buying an additional 52,763 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Flexion Therapeutics by 37.4% in the second quarter. Wells Fargo & Company MN now owns 171,351 shares of the specialty pharmaceutical company’s stock valued at $3,464,000 after buying an additional 46,634 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Flexion Therapeutics by 71.5% in the second quarter. Alliancebernstein L.P. now owns 44,600 shares of the specialty pharmaceutical company’s stock valued at $902,000 after buying an additional 18,600 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in shares of Flexion Therapeutics by 13.4% in the second quarter. Teachers Advisors LLC now owns 50,779 shares of the specialty pharmaceutical company’s stock valued at $1,027,000 after buying an additional 5,983 shares during the period. Hedge funds and other institutional investors own 72.78% of the company’s stock.

WARNING: “Flexion Therapeutics (FLXN) Downgraded by BidaskClub to “Strong Sell”” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/20/flexion-therapeutics-flxn-downgraded-by-bidaskclub-to-strong-sell.html.

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.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Receive News & Ratings for Flexion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply