Flexion Therapeutics (FLXN) Downgraded by BidaskClub to “Strong Sell”

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Flexion Therapeutics (NASDAQ:FLXN) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine upgraded shares of Flexion Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Wells Fargo & Co reiterated a “buy” rating and set a $26.00 price target on shares of Flexion Therapeutics in a research report on Friday, December 28th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price target (down previously from $42.00) on shares of Flexion Therapeutics in a research report on Friday, January 4th. Finally, BMO Capital Markets reduced their price target on shares of Flexion Therapeutics from $36.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Flexion Therapeutics has an average rating of “Hold” and an average target price of $23.42.

Shares of NASDAQ:FLXN opened at $12.01 on Friday. Flexion Therapeutics has a 52 week low of $10.98 and a 52 week high of $29.10. The company has a debt-to-equity ratio of 1.35, a quick ratio of 7.58 and a current ratio of 7.78. The firm has a market capitalization of $456.30 million, a PE ratio of -2.67 and a beta of 1.70.

In related news, insider Michael D. Clayman purchased 4,046 shares of Flexion Therapeutics stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average price of $12.36 per share, for a total transaction of $50,008.56. Following the transaction, the insider now directly owns 70,856 shares in the company, valued at $875,780.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael D. Clayman sold 3,278 shares of the company’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $12.36, for a total transaction of $40,516.08. Following the transaction, the insider now owns 64,782 shares in the company, valued at approximately $800,705.52. The disclosure for this sale can be found here. 14.59% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Flexion Therapeutics by 1.4% during the 3rd quarter. BlackRock Inc. now owns 2,868,988 shares of the specialty pharmaceutical company’s stock worth $53,679,000 after purchasing an additional 39,511 shares during the last quarter. Rubric Capital Management LP raised its holdings in Flexion Therapeutics by 7.7% during the 3rd quarter. Rubric Capital Management LP now owns 2,125,000 shares of the specialty pharmaceutical company’s stock worth $39,759,000 after purchasing an additional 151,286 shares during the last quarter. Vanguard Group Inc. raised its holdings in Flexion Therapeutics by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,619,112 shares of the specialty pharmaceutical company’s stock worth $30,294,000 after purchasing an additional 18,323 shares during the last quarter. Vanguard Group Inc raised its holdings in Flexion Therapeutics by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 1,619,112 shares of the specialty pharmaceutical company’s stock worth $30,294,000 after purchasing an additional 18,323 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in Flexion Therapeutics by 10.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,362,171 shares of the specialty pharmaceutical company’s stock worth $25,486,000 after purchasing an additional 131,115 shares during the last quarter. Institutional investors and hedge funds own 95.12% of the company’s stock.

About Flexion Therapeutics

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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Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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