Flexion Therapeutics, Inc. (FLXN) Shares Up -5.4% on Analyst Upgrade

Shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) shot up 5.4% on Monday after Zacks Investment Research upgraded the stock from a sell rating to a hold rating. The company traded as high as $32.25 and last traded at $28.31. 6,166,520 shares traded hands during mid-day trading, an increase of 816% from the average session volume of 672,838 shares. The stock had previously closed at $29.93.

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 topic of a number of other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Flexion Therapeutics in a research note on Thursday, August 10th. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Flexion Therapeutics in a research note on Sunday, September 17th. Wells Fargo & Company set a $39.00 price objective on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Flexion Therapeutics currently has a consensus rating of “Buy” and an average target price of $88.50.

In other news, insider Yamo Deniz purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at $120,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 5,375 shares of company stock worth $131,575. 15.98% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Flexion Therapeutics by 27.9% during the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock valued at $54,921,000 after buying an additional 591,981 shares during the period. Janney Montgomery Scott LLC grew its position in Flexion Therapeutics by 32.4% during the second quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock valued at $363,000 after buying an additional 4,395 shares during the period. Teachers Advisors LLC grew its position in Flexion Therapeutics by 3.1% during the first quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock valued at $1,205,000 after buying an additional 1,328 shares during the period. Wells Fargo & Company MN grew its position in Flexion Therapeutics by 25.1% during the first quarter. Wells Fargo & Company MN now owns 124,717 shares of the specialty pharmaceutical company’s stock valued at $3,356,000 after buying an additional 25,047 shares during the period. Finally, Swiss National Bank grew its position in Flexion Therapeutics by 13.2% during the first quarter. Swiss National Bank now owns 35,911 shares of the specialty pharmaceutical company’s stock valued at $966,000 after buying an additional 4,200 shares during the period. Institutional investors own 83.26% of the company’s stock.

The stock’s market cap is $866.86 million. The company’s 50 day moving average is $24.99 and its 200-day moving average is $22.62.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Equities research analysts expect that Flexion Therapeutics, Inc. will post ($3.75) EPS for the current year.

WARNING: This piece was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/11/flexion-therapeutics-inc-flxn-shares-up-5-4-on-analyst-upgrade

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 topic of a number of other research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 price objective on shares of Flexion Therapeutics in a research note on Thursday, August 10th. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 price objective on shares of Flexion Therapeutics in a research note on Sunday, September 17th. Wells Fargo & Company set a $39.00 price objective on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Friday, October 6th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Flexion Therapeutics currently has a consensus rating of “Buy” and an average target price of $88.50.

In other news, insider Yamo Deniz purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at $120,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 5,375 shares of company stock worth $131,575. 15.98% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Flexion Therapeutics by 27.9% during the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock valued at $54,921,000 after buying an additional 591,981 shares during the period. Janney Montgomery Scott LLC grew its position in Flexion Therapeutics by 32.4% during the second quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock valued at $363,000 after buying an additional 4,395 shares during the period. Teachers Advisors LLC grew its position in Flexion Therapeutics by 3.1% during the first quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock valued at $1,205,000 after buying an additional 1,328 shares during the period. Wells Fargo & Company MN grew its position in Flexion Therapeutics by 25.1% during the first quarter. Wells Fargo & Company MN now owns 124,717 shares of the specialty pharmaceutical company’s stock valued at $3,356,000 after buying an additional 25,047 shares during the period. Finally, Swiss National Bank grew its position in Flexion Therapeutics by 13.2% during the first quarter. Swiss National Bank now owns 35,911 shares of the specialty pharmaceutical company’s stock valued at $966,000 after buying an additional 4,200 shares during the period. Institutional investors own 83.26% of the company’s stock.

The stock’s market cap is $866.86 million. The company’s 50 day moving average is $24.99 and its 200-day moving average is $22.62.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). Equities research analysts expect that Flexion Therapeutics, Inc. will post ($3.75) EPS for the current year.

WARNING: This piece was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/11/flexion-therapeutics-inc-flxn-shares-up-5-4-on-analyst-upgrade.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.

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