Flexion Therapeutics (FLXN) Shares Down 7.7%

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Flexion Therapeutics Inc (NASDAQ:FLXN)’s share price was down 7.7% during trading on Monday . The company traded as low as $11.49 and last traded at $11.54. Approximately 676,168 shares traded hands during trading, an increase of 2% from the average daily volume of 665,313 shares. The stock had previously closed at $12.50.

A number of equities analysts have commented on FLXN shares. Wells Fargo & Co set a $39.00 target price on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Sunday, December 2nd. BidaskClub downgraded shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Benchmark downgraded shares of Flexion Therapeutics from a “buy” rating to a “hold” rating and set a $11.49 target price on the stock. in a research note on Friday, January 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price (down from $42.00) on shares of Flexion Therapeutics in a research note on Friday, January 4th. Finally, BMO Capital Markets reduced their target price on shares of Flexion Therapeutics from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $23.42.

The stock has a market cap of $474.88 million, a price-to-earnings ratio of -2.57 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a quick ratio of 7.58 and a current ratio of 7.78.

In related news, insider Michael D. Clayman purchased 4,046 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $50,008.56. Following the completion of the transaction, the insider now directly owns 70,856 shares in the company, valued at $875,780.16. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.59% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rubric Capital Management LP increased its position in shares of Flexion Therapeutics by 7.7% during the third quarter. Rubric Capital Management LP now owns 2,125,000 shares of the specialty pharmaceutical company’s stock valued at $39,759,000 after acquiring an additional 151,286 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Flexion Therapeutics by 6.6% during the third quarter. JPMorgan Chase & Co. now owns 152,355 shares of the specialty pharmaceutical company’s stock valued at $2,851,000 after acquiring an additional 9,460 shares during the last quarter. Vanguard Group Inc increased its position in shares of Flexion Therapeutics by 1.1% during the third quarter. Vanguard Group Inc now owns 1,619,112 shares of the specialty pharmaceutical company’s stock valued at $30,294,000 after acquiring an additional 18,323 shares during the last quarter. Capital International Investors acquired a new stake in shares of Flexion Therapeutics during the third quarter valued at about $12,162,000. Finally, Virtu Financial LLC acquired a new stake in shares of Flexion Therapeutics during the fourth quarter valued at about $240,000. Institutional investors and hedge funds own 94.73% of the company’s stock.

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Flexion Therapeutics Company Profile (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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