Flexion Therapeutics (NASDAQ:FLXN) Trading Down 7.2%

Flexion Therapeutics Inc (NASDAQ:FLXN)’s share price fell 7.2% during mid-day trading on Friday . The company traded as low as $8.98 and last traded at $9.07, 976,666 shares were traded during trading. An increase of 58% from the average session volume of 618,775 shares. The stock had previously closed at $9.77.

FLXN has been the topic of a number of research analyst reports. Laidlaw set a $18.00 price target on Flexion Therapeutics and gave the company a “buy” rating in a research note on Thursday, April 11th. ValuEngine upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Benchmark upgraded 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, May 9th. Finally, Northland Securities restated a “buy” rating and issued a $20.00 price target on shares of Flexion Therapeutics in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $23.71.

The business’s 50 day simple moving average is $10.94. The company has a quick ratio of 6.06, a current ratio of 6.32 and a debt-to-equity ratio of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.04. The firm had revenue of $10.56 million for the quarter, compared to analysts’ expectations of $11.10 million. Flexion Therapeutics had a negative return on equity of 131.94% and a negative net margin of 549.07%. Equities analysts forecast that Flexion Therapeutics Inc will post -4.07 earnings per share for the current year.

In other news, CFO David Arkowitz acquired 4,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $11.99 per share, for a total transaction of $47,960.00. Following the transaction, the chief financial officer now directly owns 86,924 shares of the company’s stock, valued at $1,042,218.76. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael D. Clayman acquired 4,012 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $12.48 per share, for a total transaction of $50,069.76. Following the transaction, the insider now directly owns 74,868 shares in the company, valued at $934,352.64. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,512 shares of company stock worth $226,775 in the last quarter. Company insiders own 16.01% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Aperio Group LLC bought a new position in Flexion Therapeutics during the 2nd quarter worth $46,000. BNP Paribas Arbitrage SA increased its position 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 buying an additional 6,980 shares during the period. Advisor Group Inc. increased its position in Flexion Therapeutics by 68.2% during the 4th quarter. Advisor Group Inc. now owns 8,608 shares of the specialty pharmaceutical company’s stock worth $97,000 after buying an additional 3,490 shares during the period. Metropolitan Life Insurance Co. NY increased its position 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 buying an additional 8,084 shares during the period. Finally, Royce & Associates LP bought a new position in Flexion Therapeutics during the 1st quarter worth $187,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

About Flexion Therapeutics (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.

Further Reading: Do stock splits help investors?

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.