Flexion Therapeutics, Inc. (FLXN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) from a hold rating to a sell rating in a research report sent to investors on Thursday, July 13th.

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. “

A number of other analysts have also weighed in on FLXN. Royal Bank Of Canada set a $44.00 price objective on shares of Flexion Therapeutics and gave the stock a buy rating in a research note on Sunday, March 26th. Janney Montgomery Scott reissued a buy rating and issued a $35.00 price target (up previously from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. Cantor Fitzgerald reissued an overweight rating and set a $34.00 price objective on shares of Flexion Therapeutics in a research report on Saturday, March 25th. BMO Capital Markets reaffirmed a buy rating on shares of Flexion Therapeutics in a report on Tuesday, June 27th. Finally, Wells Fargo & Company restated an outperform rating and issued a $30.00 price objective on shares of Flexion Therapeutics in a research report on Saturday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $31.10.

Shares of Flexion Therapeutics (FLXN) traded up 1.02% during trading on Thursday, hitting $23.82. The stock had a trading volume of 403,405 shares. The firm has a 50-day moving average of $20.08 and a 200 day moving average of $20.83. The company’s market capitalization is $756.45 million. Flexion Therapeutics has a 1-year low of $15.44 and a 1-year high of $29.41.

Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by $0.02. Equities research analysts predict that Flexion Therapeutics will post ($3.56) earnings per share for the current fiscal year.

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In related news, Director Mark Stejbach purchased 1,580 shares of Flexion Therapeutics stock in a transaction on Friday, June 16th. The stock was bought at an average price of $17.02 per share, with a total value of $26,891.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Clayman purchased 5,000 shares of Flexion Therapeutics stock in a transaction on Monday, June 5th. The stock was bought at an average cost of $17.23 per share, with a total value of $86,150.00. Following the transaction, the insider now directly owns 20,146 shares of the company’s stock, valued at $347,115.58. The disclosure for this purchase can be found here. Insiders own 15.98% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FLXN. Bank of New York Mellon Corp raised its stake in Flexion Therapeutics by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 2,124,208 shares of the specialty pharmaceutical company’s stock worth $57,163,000 after buying an additional 175,879 shares during the period. Vanguard Group Inc. raised its stake in Flexion Therapeutics by 3.4% in the first quarter. Vanguard Group Inc. now owns 995,321 shares of the specialty pharmaceutical company’s stock worth $26,784,000 after buying an additional 32,479 shares during the period. State Street Corp increased its position in Flexion Therapeutics by 111.8% in the first quarter. State Street Corp now owns 829,254 shares of the specialty pharmaceutical company’s stock valued at $22,316,000 after buying an additional 437,648 shares in the last quarter. Driehaus Capital Management LLC increased its position in Flexion Therapeutics by 16.3% in the first quarter. Driehaus Capital Management LLC now owns 523,060 shares of the specialty pharmaceutical company’s stock valued at $14,076,000 after buying an additional 73,353 shares in the last quarter. Finally, Pictet Asset Management Ltd. purchased a new position in Flexion Therapeutics during the first quarter valued at about $7,323,000. Institutional investors and hedge funds own 75.16% of the company’s stock.

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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