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

Flexion Therapeutics (NASDAQ:FLXN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday, September 20th.

FLXN has been the topic of a number of other research reports. Zacks Investment Research downgraded Flexion Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. ValuEngine upgraded Flexion Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 2nd. Finally, Benchmark initiated coverage on Flexion Therapeutics in a report on Thursday, June 28th. They issued a “buy” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Flexion Therapeutics currently has an average rating of “Buy” and an average price target of $37.86.

Shares of NASDAQ:FLXN traded down $0.19 during trading on Thursday, reaching $18.38. The stock had a trading volume of 810,627 shares, compared to its average volume of 601,261. Flexion Therapeutics has a 1-year low of $17.26 and a 1-year high of $29.10. The firm has a market capitalization of $707.53 million, a PE ratio of -4.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 12.90 and a quick ratio of 12.78.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 7th. The specialty pharmaceutical company reported ($1.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $0.06. The company had revenue of $3.80 million for the quarter, compared to analysts’ expectations of $3.96 million. As a group, analysts expect that Flexion Therapeutics will post -4.75 earnings per share for the current year.

In other Flexion Therapeutics news, CEO Michael D. Clayman acquired 10,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was acquired at an average cost of $22.33 per share, with a total value of $223,300.00. Following the transaction, the chief executive officer now owns 75,282 shares in the company, valued at approximately $1,681,047.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David Arkowitz acquired 4,000 shares of the stock in a transaction dated Thursday, August 9th. The shares were acquired at an average cost of $23.42 per share, with a total value of $93,680.00. Following the completion of the transaction, the chief financial officer now owns 44,250 shares in the company, valued at approximately $1,036,335. The disclosure for this purchase can be found here. Insiders own 14.59% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FLXN. Redmile Group LLC acquired a new position in shares of Flexion Therapeutics during the 1st quarter worth about $223,000. Stifel Financial Corp purchased a new stake in shares of Flexion Therapeutics in the 1st quarter valued at about $293,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Flexion Therapeutics in the 1st quarter valued at about $381,000. Wexford Capital LP purchased a new stake in shares of Flexion Therapeutics in the 1st quarter valued at about $401,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of Flexion Therapeutics by 22.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 15,896 shares of the specialty pharmaceutical company’s stock valued at $411,000 after purchasing an additional 2,960 shares during the last quarter. 99.09% of the stock is owned by institutional investors and hedge funds.

Flexion Therapeutics Company Profile

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It lead product candidate includes Zilretta, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee.

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Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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