Here’s Why Flexion Therapeutics, Inc. (FLXN) Stock Declined -4.45% Today

The biggest losers of the session on the Wall Street include Flexion Therapeutics, Inc. (NASDAQ:FLXN), which fell -0.59 points or -4.45% to trade at $12.67 as last check. The stock closed last session at $13.26 and sets an active trading volume day with a reported 203003 contracts so far this session. FLXN shares had a relatively better volume day versus average trading capacity of 670.7 thousand shares, but with a 36.31 million float and a 14.81% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for FLXN stock indicates that the average analyst price target is $26.44 per share. This means the stock has a potential increase of 108.68% from where the FLXN share price has been trading recently which is between $12.7451 and $13.3999. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $19.

The shorts are climbing into Flexion Therapeutics, Inc. (FLXN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in FLXN shares. While short interest still represents only 23.01% of FLXN’s float, the number of shares shorted have risen by 184299. The number of shares shorted advanced to 8353453 shares, up from 8169154 shares during the preceding fortnight. With average daily trading volumes at 464840 shares, days to cover increased to about 10.0192 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Flexion Therapeutics to Present at the 2019 RBC Capital Markets Global Healthcare Conference” and dated May 14, 2019.

During the recent trading session for Flexion Therapeutics, Inc. (NASDAQ:FLXN), the company witnessed their stock rise $0.14 over a week and surge $2.48 from the price 20 days ago. When compared to their established 52-week high of $29.1, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/20/18. The recent low of $9.65 stood for a -56.46% since 05/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.47 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Flexion Therapeutics, Inc., the two-week RSI stands at 59.58. This figure suggests that FLXN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current FLXN readings is similarly very revealing as it has a stochastic reading of 88.72% at this stage. This figure means that FLXN share price today is being oversold.

Technical chart claims that Flexion Therapeutics, Inc. (FLXN) would settle between $13.52/share to $13.79/share level. However, if the stock price goes below the $12.87 mark, then the market for Flexion Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $12.48 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.97. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at The Benchmark Company raised their recommendation on shares of FLXN from Hold to Buy in their opinion released on May 09. Needham analysts again handed out a Buy recommendation to Flexion Therapeutics, Inc. (NASDAQ:FLXN) stock but they lifted target price for the shares in a flash note issued to investors on January 04. The target price has been raised from $42 to $36. Analysts at The Benchmark Company lowered the stock to a Hold call from its previous Buy recommendation, in a research note that dated back to January 04.

FLXN equity has an average rating of 1.38, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Flexion Therapeutics, Inc. (NASDAQ:FLXN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Flexion Therapeutics, Inc. (FLXN)’s current-quarter revenues are projected to climb by nearly 269.29% to hit $14.03 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 195.03% from $22.52 million to a noteworthy $66.45 million. At the other end of the current quarter income statement, Flexion Therapeutics, Inc. is expected to see its adjusted earnings surge by roughly 8.62% to hit $-1.06 per share. For the fiscal year, FLXN’s earnings are projected to climb by roughly 9.35% to hit $-4.07 per share.