ValuEngine Upgrades Flexion Therapeutics (NASDAQ:FLXN) to “Buy”

Flexion Therapeutics (NASDAQ:FLXN) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Wednesday, ValuEngine reports.

Several other research firms have also commented on FLXN. BidaskClub raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Saturday, August 10th. Finally, Northland Securities set a $20.00 price objective on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average price target of $23.57.

FLXN traded up $0.38 during trading hours on Wednesday, hitting $14.63. 674,794 shares of the stock were exchanged, compared to its average volume of 625,181. The stock has a market cap of $557.51 million, a price-to-earnings ratio of -3.26 and a beta of 1.23. The stock has a 50-day simple moving average of $11.29 and a 200-day simple moving average of $11.69. The company has a debt-to-equity ratio of 3.95, a current ratio of 7.80 and a quick ratio of 7.33. Flexion Therapeutics has a 12 month low of $8.76 and a 12 month high of $22.12.

Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.10. The firm had revenue of $16.95 million during the quarter, compared to analyst estimates of $14.03 million. Flexion Therapeutics had a negative net margin of 368.31% and a negative return on equity of 175.29%. Sell-side analysts expect that Flexion Therapeutics will post -4.02 EPS for the current year.

In related news, insider Michael D. Clayman acquired 2,317 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average cost of $10.85 per share, for a total transaction of $25,139.45. Following the purchase, the insider now directly owns 72,249 shares in the company, valued at $783,901.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 16.01% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FLXN. Northern Trust Corp grew its position in shares of Flexion Therapeutics by 0.3% during the second quarter. Northern Trust Corp now owns 448,993 shares of the specialty pharmaceutical company’s stock worth $5,522,000 after acquiring an additional 1,529 shares during the last quarter. Quantamental Technologies LLC lifted its position in Flexion Therapeutics by 310.1% in the 2nd quarter. Quantamental Technologies LLC now owns 3,449 shares of the specialty pharmaceutical company’s stock valued at $42,000 after purchasing an additional 2,608 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in Flexion Therapeutics by 22.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 15,300 shares of the specialty pharmaceutical company’s stock valued at $343,000 after purchasing an additional 2,800 shares during the period. Aperio Group LLC acquired a new position in Flexion Therapeutics during the 2nd quarter valued at about $46,000. Finally, Commonwealth Equity Services LLC grew its position in Flexion Therapeutics by 9.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 51,473 shares of the specialty pharmaceutical company’s stock worth $633,000 after purchasing an additional 4,312 shares during the last quarter. Institutional investors own 84.87% 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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