Shares of Flexion Therapeutics Inc (NASDAQ:FLXN) traded down 5.7% during mid-day trading on Friday . The stock traded as low as $23.17 and last traded at $23.19. 633,012 shares changed hands during trading, a decline of 10% from the average session volume of 704,994 shares. The stock had previously closed at $24.58.
Several analysts have recently issued reports on the stock. Royal Bank of Canada set a $44.00 price target on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research report on Sunday, October 29th. Berenberg Bank assumed coverage on shares of Flexion Therapeutics in a research report on Thursday, February 1st. They set a “buy” rating and a $42.00 price target on the stock. Northland Securities reissued a “buy” rating and set a $40.00 price target on shares of Flexion Therapeutics in a research report on Friday, November 10th. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $99.11.
The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87.
Large investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in Flexion Therapeutics in the fourth quarter valued at approximately $108,000. Advisor Group Inc. raised its holdings in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after acquiring an additional 3,500 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Flexion Therapeutics in the third quarter valued at approximately $135,000. IFP Advisors Inc raised its holdings in Flexion Therapeutics by 58.1% in the third quarter. IFP Advisors Inc now owns 8,030 shares of the specialty pharmaceutical company’s stock valued at $194,000 after acquiring an additional 2,950 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in Flexion Therapeutics in the third quarter valued at approximately $235,000. 72.18% of the stock is currently owned by hedge funds and other institutional investors.
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About Flexion Therapeutics
Flexion Therapeutics, Inc is a United States-based specialty pharmaceutical company. The Company is focused on the development and commercialization of local therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis. The Company’s lead product candidate, Zilretta, is a late-stage, injectable, extended-release, intra-articular (IA) investigational steroid.
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