Our Stock of the Week is Flexion Therapeutics (FLXN). FLXN develops pain therapies for the treatment of osteoarthritis which impacts joints. There are many treatments for joint pain but the advantage of FLXN is that it is not an opioid.
The company plans to manufacture and market its drug directly which is a difficult task but can prove much more profitable in the long run. This has helped to keep the stock pinned down despite positive product news and good progress with the FDA
Last week the stock turned up slightly and looks like it is going to try to come out of the long base that has been forming since November. Technically a move over the $27 level on increased volume should bring in breakout buyers. The stock has made a few stabs at higher highs but has not been able to sustain a move.
As always we would not chase the stock higher on Monday morning but would look for a either a strong close on big volume or a shallow pullback on lighter volume for entry points.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength, and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees and affiliates of Shark Investing, Inc. and/or principals, employees and affiliates of Shark Asset Management, Inc. ("SAMI"), directly or indirectly, controlled investment and/or trading accounts containing positions in FLXN. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.