Flexion Therapeutics Inc (NASDAQ:FLXN) traded down 5.4% on Wednesday . The company traded as low as $17.88 and last traded at $18.54. 782,852 shares changed hands during mid-day trading, an increase of 30% from the average session volume of 601,157 shares. The stock had previously closed at $19.60.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Flexion Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Friday, October 12th. ValuEngine upgraded Flexion Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research lowered Flexion Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Flexion Therapeutics has an average rating of “Buy” and a consensus price target of $37.86.
The company has a debt-to-equity ratio of 0.80, a current ratio of 12.90 and a quick ratio of 12.78. The stock has a market capitalization of $701.10 million, a price-to-earnings ratio of -4.46 and a beta of 0.74.
In other news, CEO Michael D. Clayman purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were bought at an average cost of $22.33 per share, for a total transaction of $223,300.00. Following the completion of the transaction, the chief executive officer now directly owns 75,282 shares of the company’s stock, valued at approximately $1,681,047.06. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David Arkowitz purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were purchased at an average price of $23.42 per share, for a total transaction of $93,680.00. Following the completion of the transaction, the chief financial officer now directly owns 44,250 shares of the company’s stock, valued at $1,036,335. The disclosure for this purchase can be found here. Insiders own 14.59% of the company’s stock.
A number of large investors have recently made changes to their positions in FLXN. Millennium Management LLC purchased a new position in Flexion Therapeutics during the first quarter valued at $15,511,000. Artisan Partners Limited Partnership purchased a new position in shares of Flexion Therapeutics in the second quarter worth $14,057,000. Zweig DiMenna Associates LLC purchased a new position in shares of Flexion Therapeutics in the second quarter worth $5,765,000. BlackRock Inc. raised its stake in shares of Flexion Therapeutics by 8.3% in the second quarter. BlackRock Inc. now owns 2,829,477 shares of the specialty pharmaceutical company’s stock worth $73,144,000 after purchasing an additional 217,510 shares during the last quarter. Finally, Clearline Capital LP purchased a new position in shares of Flexion Therapeutics in the second quarter worth $5,411,000. Institutional investors and hedge funds own 99.57% of the company’s stock.
About Flexion Therapeutics (NASDAQ:FLXN)
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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