Zacks Investment Research upgraded shares of Flexion Therapeutics (NASDAQ:FLXN) from a hold rating to a buy rating in a research note released on Monday morning, Zacks.com reports. The brokerage currently has $7.00 price objective on the specialty pharmaceutical company’s stock.
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 equities analysts have also recently issued reports on FLXN. Needham & Company LLC cut their price objective on shares of Flexion Therapeutics from $20.00 to $18.00 and set a buy rating on the stock in a research report on Thursday, August 5th. The Goldman Sachs Group dropped their price target on shares of Flexion Therapeutics from $8.00 to $6.00 and set a neutral rating on the stock in a research report on Friday, August 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Buy and an average target price of $14.00.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Wednesday, August 4th. The specialty pharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.06. The company had revenue of $28.18 million for the quarter, compared to the consensus estimate of $28.02 million. As a group, research analysts forecast that Flexion Therapeutics will post -1.81 EPS for the current year.
In other Flexion Therapeutics news, insider Christina Willwerth sold 3,945 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $6.45, for a total value of $25,445.25. Following the completion of the sale, the insider now owns 133,486 shares in the company, valued at approximately $860,984.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.13% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. increased its stake in shares of Flexion Therapeutics by 991.1% during the 2nd quarter. Macquarie Group Ltd. now owns 4,179 shares of the specialty pharmaceutical company’s stock worth $34,000 after purchasing an additional 3,796 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Flexion Therapeutics during the 1st quarter worth approximately $47,000. Advisor Group Holdings Inc. increased its stake in shares of Flexion Therapeutics by 203.9% during the 2nd quarter. Advisor Group Holdings Inc. now owns 5,775 shares of the specialty pharmaceutical company’s stock worth $48,000 after purchasing an additional 3,875 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Flexion Therapeutics during the 2nd quarter worth approximately $91,000. Finally, Wellington Shields & Co. LLC purchased a new stake in shares of Flexion Therapeutics during the 2nd quarter worth approximately $93,000. Institutional investors own 89.77% of the company’s stock.
About Flexion Therapeutics
Flexion Therapeutics, Inc operates as a biopharmaceutical company, which engages in the development and commercialization of novel and local therapies. It specializes in the treatment of patients with musculoskeletal conditions including osteoarthritis. It offers products under the Zilretta brand, an extended-release corticosteroid approved to manage osteoarthritis knee pain.
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