Flexion Therapeutics (NASDAQ:FLXN) Upgraded to “Sell” at BidaskClub

BidaskClub upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other brokerages have also recently issued reports on FLXN. ValuEngine raised shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Thursday, May 23rd. Northland Securities reissued a buy rating and set a $20.00 price target on shares of Flexion Therapeutics in a research report on Thursday, May 9th. Benchmark raised shares of Flexion Therapeutics from a hold rating to a buy rating and set a $19.00 price target for the company in a research report on Thursday, May 9th. Finally, Zacks Investment Research raised shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Flexion Therapeutics presently has an average rating of Buy and an average target price of $23.57.

NASDAQ:FLXN opened at $11.92 on Friday. The stock has a 50-day moving average of $10.73. Flexion Therapeutics has a 12 month low of $8.76 and a 12 month high of $24.10. The company has a debt-to-equity ratio of 3.95, a quick ratio of 7.33 and a current ratio of 7.80. The stock has a market cap of $426.79 million, a PE ratio of -2.65 and a beta of 1.37.

Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($0.96) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.06) by $0.10. Flexion Therapeutics had a negative net margin of 368.31% and a negative return on equity of 175.29%. The firm had revenue of $16.95 million during the quarter, compared to analysts’ expectations of $14.03 million. On average, equities research analysts expect that Flexion Therapeutics will post -3.99 earnings per share for the current fiscal year.

In other news, insider Michael D. Clayman bought 2,317 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $10.85 per share, with a total value of $25,139.45. Following the completion of the acquisition, the insider now owns 72,249 shares of the company’s stock, valued at $783,901.65. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director C Ann Merrifield bought 8,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was purchased at an average cost of $12.64 per share, with a total value of $101,120.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $126,400. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 14,817 shares of company stock valued at $175,364. 16.01% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of FLXN. Geode Capital Management LLC increased its holdings in Flexion Therapeutics by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 384,433 shares of the specialty pharmaceutical company’s stock worth $4,351,000 after purchasing an additional 7,814 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Flexion Therapeutics by 341.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,455 shares of the specialty pharmaceutical company’s stock worth $118,000 after purchasing an additional 8,084 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Flexion Therapeutics by 2.7% during the 4th quarter. Macquarie Group Ltd. now owns 68,484 shares of the specialty pharmaceutical company’s stock worth $775,000 after purchasing an additional 1,781 shares in the last quarter. American Century Companies Inc. increased its holdings in Flexion Therapeutics by 2.1% during the 4th quarter. American Century Companies Inc. now owns 175,780 shares of the specialty pharmaceutical company’s stock worth $1,990,000 after purchasing an additional 3,666 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in Flexion Therapeutics by 53,692.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,993 shares of the specialty pharmaceutical company’s stock worth $87,000 after purchasing an additional 6,980 shares in the last quarter. 89.12% of the stock is owned by institutional investors and hedge funds.

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.

Read More: What is a good dividend yield?

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Receive News & Ratings for Flexion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.