Flexion Therapeutics (NASDAQ:FLXN) Coverage Initiated at Credit Suisse Group

Credit Suisse Group began coverage on shares of Flexion Therapeutics (NASDAQ:FLXN) in a research report sent to investors on Wednesday, 24/7 WallStreet reports. The firm issued an outperform rating and a $19.00 price objective on the specialty pharmaceutical company’s stock.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC dropped their price target on Flexion Therapeutics from $30.00 to $20.00 and set a buy rating for the company in a research note on Friday, May 8th. Royal Bank of Canada dropped their price target on Flexion Therapeutics from $20.00 to $18.00 and set an outperform rating for the company in a research note on Friday, May 8th. Zacks Investment Research raised Flexion Therapeutics from a hold rating to a buy rating and set a $14.00 price target for the company in a research note on Wednesday, July 8th. Guggenheim assumed coverage on Flexion Therapeutics in a research note on Tuesday, May 26th. They set a buy rating and a $20.00 price target for the company. Finally, BidaskClub lowered Flexion Therapeutics from a buy rating to a hold rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $22.08.

Flexion Therapeutics stock opened at $13.57 on Wednesday. Flexion Therapeutics has a 52 week low of $5.01 and a 52 week high of $22.98. The business has a 50-day simple moving average of $12.64 and a 200 day simple moving average of $12.41. The stock has a market cap of $523.26 million, a price-to-earnings ratio of -3.58 and a beta of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Thursday, May 7th. The specialty pharmaceutical company reported ($0.95) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.05. Flexion Therapeutics had a negative return on equity of 592.50% and a negative net margin of 175.76%. The business had revenue of $20.13 million during the quarter, compared to analysts’ expectations of $18.45 million. Equities research analysts predict that Flexion Therapeutics will post -2.62 EPS for the current year.

In other Flexion Therapeutics news, CEO Michael D. Clayman purchased 10,256 shares of Flexion Therapeutics stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of $9.75 per share, for a total transaction of $99,996.00. Following the acquisition, the chief executive officer now directly owns 64,957 shares in the company, valued at $633,330.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 17.03% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Monarch Partners Asset Management LLC increased its holdings in Flexion Therapeutics by 135.8% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 58,710 shares of the specialty pharmaceutical company’s stock valued at $772,000 after purchasing an additional 33,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Flexion Therapeutics by 791.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,801 shares of the specialty pharmaceutical company’s stock valued at $129,000 after purchasing an additional 8,702 shares during the period. Dupont Capital Management Corp purchased a new position in Flexion Therapeutics during the 2nd quarter valued at about $567,000. First Trust Advisors LP purchased a new position in shares of Flexion Therapeutics during the 2nd quarter worth approximately $211,000. Finally, Moody National Bank Trust Division purchased a new position in shares of Flexion Therapeutics during the 2nd quarter worth approximately $5,067,000. Institutional investors own 82.19% of the company’s stock.

Flexion Therapeutics Company Profile

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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Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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