Flexion Therapeutics (NASDAQ:FLXN) Upgraded at BidaskClub

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BidaskClub upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a sell rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on FLXN. Zacks Investment Research lowered Flexion Therapeutics from a hold rating to a sell rating in a research report on Wednesday, February 20th. Northland Securities reiterated a buy rating and issued a $20.00 price objective on shares of Flexion Therapeutics in a research report on Friday, March 1st. Raymond James reiterated a buy rating on shares of Flexion Therapeutics in a research report on Thursday, March 28th. Wells Fargo & Co reiterated a buy rating on shares of Flexion Therapeutics in a research report on Wednesday, April 10th. Finally, Laidlaw set a $18.00 price objective on Flexion Therapeutics and gave the stock a buy rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $23.71.

Shares of FLXN stock opened at $11.64 on Thursday. Flexion Therapeutics has a fifty-two week low of $9.65 and a fifty-two week high of $27.84. The company has a quick ratio of 6.06, a current ratio of 6.32 and a debt-to-equity ratio of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.13) by $0.04. The firm had revenue of $10.56 million for the quarter, compared to analyst estimates of $11.10 million. Flexion Therapeutics had a negative return on equity of 131.94% and a negative net margin of 549.07%. As a group, research analysts anticipate that Flexion Therapeutics will post -4.07 earnings per share for the current year.

In other news, CFO David Arkowitz purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $988,135.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael D. Clayman purchased 4,012 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average price of $12.48 per share, for a total transaction of $50,069.76. Following the completion of the transaction, the insider now directly owns 74,868 shares of the company’s stock, valued at $934,352.64. The disclosure for this purchase can be found here. Insiders have purchased 18,512 shares of company stock worth $226,775 over the last 90 days. 16.01% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. boosted its position in shares of Flexion Therapeutics by 0.6% during the first quarter. Pictet Asset Management Ltd. now owns 1,432,159 shares of the specialty pharmaceutical company’s stock valued at $17,873,000 after purchasing an additional 8,139 shares in the last quarter. Wasatch Advisors Inc. boosted its position in shares of Flexion Therapeutics by 7.8% during the first quarter. Wasatch Advisors Inc. now owns 1,016,137 shares of the specialty pharmaceutical company’s stock valued at $12,681,000 after purchasing an additional 73,751 shares in the last quarter. Gagnon Securities LLC boosted its position in shares of Flexion Therapeutics by 171.2% during the first quarter. Gagnon Securities LLC now owns 688,271 shares of the specialty pharmaceutical company’s stock valued at $8,590,000 after purchasing an additional 434,448 shares in the last quarter. Gagnon Advisors LLC boosted its position in shares of Flexion Therapeutics by 89.6% during the first quarter. Gagnon Advisors LLC now owns 401,648 shares of the specialty pharmaceutical company’s stock valued at $5,013,000 after purchasing an additional 189,860 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Flexion Therapeutics by 2.1% during the fourth 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 in the last quarter. Institutional investors own 89.88% 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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Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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