Flexion Therapeutics Inc. (FLXN) Downgraded to Sell at Zacks Investment Research
Flexion Therapeutics Inc. (NASDAQ:FLXN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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 equities analysts also recently issued reports on the company. BMO Capital Markets started coverage on Flexion Therapeutics in a research report on Tuesday, June 28th. They issued an “outperform” rating and a $35.00 price objective for the company. Lake Street Capital started coverage on Flexion Therapeutics in a research report on Thursday, July 21st. They issued a “buy” rating and a $38.00 price objective for the company. Janney Montgomery Scott reiterated a “buy” rating and issued a $30.00 price objective on shares of Flexion Therapeutics in a research report on Friday, July 1st. Vetr upgraded Flexion Therapeutics from a “buy” rating to a “strong-buy” rating and set a $15.50 target price for the company in a research report on Monday, June 13th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $32.31.
Flexion Therapeutics (NASDAQ:FLXN) traded down 7.29% during trading on Tuesday, hitting $18.96. The company had a trading volume of 228,506 shares. The company’s market capitalization is $521.80 million. Flexion Therapeutics has a 12-month low of $7.56 and a 12-month high of $21.71. The firm has a 50-day moving average of $17.75 and a 200 day moving average of $14.81.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data on Wednesday, August 3rd. The specialty pharmaceutical company reported ($0.63) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.67) by $0.04. On average, equities research analysts forecast that Flexion Therapeutics will post ($2.69) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. bought a new stake in Flexion Therapeutics during the second quarter worth approximately $1,172,000. Royal Bank of Canada increased its stake in Flexion Therapeutics by 135.6% in the second quarter. Royal Bank of Canada now owns 68,058 shares of the specialty pharmaceutical company’s stock worth $1,019,000 after buying an additional 39,165 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Flexion Therapeutics by 45.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 28,943 shares of the specialty pharmaceutical company’s stock worth $434,000 after buying an additional 9,000 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new stake in Flexion Therapeutics during the second quarter worth approximately $176,000. Finally, Highbridge Capital Management LLC bought a new stake in Flexion Therapeutics during the second quarter worth approximately $533,000. Institutional investors and hedge funds own 68.27% of the company’s stock.
Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc is a specialty pharmaceutical company. The Company is focused on the development and commercialization of therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis and post-operative pain. The Company’s portfolio of product candidates addresses the OA pain treatment spectrum, from moderate to severe pain.
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