Flexion Therapeutics (NASDAQ:FLXN) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.
Several other equities research analysts have also recently issued reports on the company. Janney Montgomery Scott lifted their price objective on Flexion Therapeutics to $570.00 and gave the stock a “fair value” rating in a report on Tuesday, October 10th. Wells Fargo & Co set a $39.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a report on Friday, October 6th. Zacks Investment Research cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Royal Bank of Canada set a $44.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a report on Sunday, October 29th. Finally, Northland Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Flexion Therapeutics in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Flexion Therapeutics has an average rating of “Buy” and an average target price of $106.25.
Shares of Flexion Therapeutics (NASDAQ:FLXN) opened at $23.41 on Friday. 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 has a 12-month low of $16.51 and a 12-month high of $32.25. The company has a market capitalization of $878.83, a PE ratio of -6.65 and a beta of 1.14.
Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings data on Monday, November 6th. The specialty pharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.98) by ($0.09). analysts predict that Flexion Therapeutics will post -3.84 earnings per share for the current fiscal year.
In other Flexion Therapeutics news, insider Michael D. Clayman bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average cost of $23.60 per share, with a total value of $118,000.00. Following the purchase, the insider now directly owns 35,395 shares of the company’s stock, valued at approximately $835,322. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Neil Bodick bought 2,700 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was acquired at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the purchase, the insider now directly owns 64,605 shares in the company, valued at $1,582,176.45. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its stake in Flexion Therapeutics by 53.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 165,222 shares of the specialty pharmaceutical company’s stock worth $4,138,000 after purchasing an additional 57,672 shares in the last quarter. Berson & Corrado Investment Advisors LLC purchased a new position in Flexion Therapeutics in the 4th quarter worth approximately $324,000. Highbridge Capital Management LLC lifted its stake in Flexion Therapeutics by 408.2% in the 3rd quarter. Highbridge Capital Management LLC now owns 50,823 shares of the specialty pharmaceutical company’s stock worth $1,229,000 after purchasing an additional 40,823 shares in the last quarter. Gagnon Securities LLC purchased a new stake in shares of Flexion Therapeutics during the 3rd quarter valued at approximately $3,490,000. Finally, Uniplan Investment Counsel Inc. purchased a new stake in shares of Flexion Therapeutics during the 3rd quarter valued at approximately $2,996,000. 72.78% of the stock is currently owned by institutional investors and hedge funds.
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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