Flexion Therapeutics (FLXN) Stock Price Up 8.1%

Flexion Therapeutics Inc (NASDAQ:FLXN) shares rose 8.1% during trading on Friday . The stock traded as high as $11.68 and last traded at $12.49. Approximately 786,492 shares changed hands during trading, an increase of 18% from the average daily volume of 667,619 shares. The stock had previously closed at $11.55.

FLXN has been the topic of several research reports. Laidlaw set a $18.00 price target on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Thursday, April 11th. Wells Fargo & Co reissued a “buy” rating on shares of Flexion Therapeutics in a research note on Wednesday, April 10th. Northland Securities reissued a “buy” rating and set a $20.00 price target on shares of Flexion Therapeutics in a research note on Friday, March 1st. Raymond James reissued a “buy” rating on shares of Flexion Therapeutics in a research note on Thursday, March 28th. Finally, Benchmark raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $23.71.

The company has a market capitalization of $438.82 million, a P/E ratio of -2.80 and a beta of 1.56. The company has a current ratio of 6.32, a quick ratio of 7.58 and a debt-to-equity ratio of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.04. Flexion Therapeutics had a negative net margin of 549.07% and a negative return on equity of 131.94%. The firm had revenue of $10.56 million for the quarter, compared to the consensus estimate of $11.10 million. As a group, analysts anticipate that Flexion Therapeutics Inc will post -4.12 EPS for the current fiscal year.

In other news, insider Michael D. Clayman bought 4,046 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average cost of $12.36 per share, with a total value of $50,008.56. Following the completion of the purchase, the insider now directly owns 70,856 shares in the company, valued at $875,780.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.59% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its stake in shares of Flexion Therapeutics by 4.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 16,668 shares of the specialty pharmaceutical company’s stock worth $189,000 after buying an additional 772 shares during the period. Carroll Financial Associates Inc. increased its stake in shares of Flexion Therapeutics by 100.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 2,000 shares of the specialty pharmaceutical company’s stock worth $26,000 after buying an additional 1,000 shares during the period. Swiss National Bank increased its stake in shares of Flexion Therapeutics by 3.2% in the first quarter. Swiss National Bank now owns 55,211 shares of the specialty pharmaceutical company’s stock worth $689,000 after buying an additional 1,700 shares during the period. Macquarie Group Ltd. increased its stake in shares of Flexion Therapeutics by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 68,484 shares of the specialty pharmaceutical company’s stock worth $775,000 after buying an additional 1,781 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Flexion Therapeutics by 22.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 15,300 shares of the specialty pharmaceutical company’s stock worth $343,000 after buying an additional 2,800 shares during the period. 94.41% of the stock is currently owned by institutional investors.

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Flexion Therapeutics Company Profile (NASDAQ:FLXN)

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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