Flexion Therapeutics (NASDAQ:FLXN) Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a hold rating to a buy rating in a report issued on Saturday morning, Zacks.com reports. They currently have $12.00 price objective on the specialty pharmaceutical company’s stock.

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 brokerages have also recently commented on FLXN. Northland Securities reiterated a buy rating and issued a $20.00 price target on shares of Flexion Therapeutics in a research note on Thursday, May 9th. BidaskClub upgraded shares of Flexion Therapeutics from a strong sell rating to a sell rating in a research note on Saturday. ValuEngine upgraded shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 23rd. Finally, Benchmark upgraded shares of Flexion Therapeutics from a hold rating to a buy rating and set a $19.00 target price on the stock in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Flexion Therapeutics presently has a consensus rating of Buy and an average price target of $23.57.

Shares of FLXN stock opened at $11.92 on Friday. The stock has a market cap of $426.79 million, a PE ratio of -2.65 and a beta of 1.37. Flexion Therapeutics has a 52 week low of $8.76 and a 52 week high of $24.10. The company has a debt-to-equity ratio of 3.95, a quick ratio of 7.33 and a current ratio of 7.80. The business has a fifty day moving average of $10.73.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.10. The business had revenue of $16.95 million for the quarter, compared to analysts’ expectations of $14.03 million. Flexion Therapeutics had a negative net margin of 368.31% and a negative return on equity of 175.29%. On average, research analysts forecast that Flexion Therapeutics will post -3.99 EPS for the current fiscal year.

In other Flexion Therapeutics news, Director C Ann Merrifield bought 8,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $12.64 per share, for a total transaction of $101,120.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $126,400. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David Arkowitz bought 2,500 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $11.05 per share, for a total transaction of $27,625.00. Following the completion of the transaction, the chief financial officer now directly owns 89,424 shares in the company, valued at approximately $988,135.20. The disclosure for this purchase can be found here. Insiders have bought a total of 14,817 shares of company stock worth $175,364 over the last 90 days. Corporate insiders own 16.01% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of Flexion Therapeutics by 46.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 106,164 shares of the specialty pharmaceutical company’s stock valued at $1,325,000 after buying an additional 33,569 shares in the last quarter. Claro Advisors LLC grew its holdings in Flexion Therapeutics by 33.0% during the 1st quarter. Claro Advisors LLC now owns 22,150 shares of the specialty pharmaceutical company’s stock valued at $276,000 after purchasing an additional 5,500 shares during the last quarter. Geode Capital Management LLC grew its holdings in Flexion Therapeutics by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 384,433 shares of the specialty pharmaceutical company’s stock valued at $4,351,000 after purchasing an additional 7,814 shares during the last quarter. Alps Advisors Inc. grew its holdings in Flexion Therapeutics by 4.5% during the 1st quarter. Alps Advisors Inc. now owns 91,439 shares of the specialty pharmaceutical company’s stock valued at $1,141,000 after purchasing an additional 3,952 shares during the last quarter. Finally, Campbell Capital Management Inc. bought a new position in Flexion Therapeutics during the 2nd quarter valued at about $1,594,000. Hedge funds and other institutional investors own 89.12% of the company’s stock.

Flexion Therapeutics Company Profile

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee in the United States.

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