Flexion Therapeutics Inc (NASDAQ:FLXN) has been assigned an average rating of “Buy” from the eleven research firms that are presently covering the company. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $29.35.
A number of analysts have recently weighed in on the stock. Wells Fargo & Co reissued an “outperform” rating and set a $30.00 price target on shares of Flexion Therapeutics in a research report on Saturday, March 25th. Royal Bank of Canada set a $44.00 price objective on shares of Flexion Therapeutics and gave the stock a “buy” rating in a report on Sunday, March 26th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $34.00 price objective (down previously from $37.00) on shares of Flexion Therapeutics in a report on Tuesday, March 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $33.00 price objective on shares of Flexion Therapeutics in a report on Thursday, December 15th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Flexion Therapeutics in a report on Saturday, March 11th.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded up 6.96% during trading on Monday, hitting $27.97. 428,362 shares of the stock were exchanged. Flexion Therapeutics has a 12-month low of $8.16 and a 12-month high of $29.41. The stock’s market cap is $887.52 million. The stock has a 50-day moving average of $23.08 and a 200 day moving average of $20.13.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Thursday, March 9th. The specialty pharmaceutical company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by $0.08. Equities analysts predict that Flexion Therapeutics will post ($3.46) earnings per share for the current fiscal year.
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In other Flexion Therapeutics news, CFO Frederick W. Driscoll sold 3,000 shares of Flexion Therapeutics stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $23.00, for a total value of $69,000.00. Following the completion of the transaction, the chief financial officer now owns 10,777 shares of the company’s stock, valued at $247,871. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Neil Bodick sold 5,000 shares of Flexion Therapeutics stock in a transaction on Friday, February 24th. The stock was sold at an average price of $19.15, for a total transaction of $95,750.00. Following the completion of the transaction, the insider now directly owns 55,937 shares of the company’s stock, valued at approximately $1,071,193.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,000 shares of company stock valued at $358,550. 18.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in FLXN. Keybank National Association OH increased its position in Flexion Therapeutics by 0.7% in the fourth quarter. Keybank National Association OH now owns 10,357 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 67 shares in the last quarter. SECOR Capital Advisors LP purchased a new position in shares of Flexion Therapeutics during the third quarter valued at about $214,000. Stoneridge Investment Partners LLC purchased a new position in shares of Flexion Therapeutics during the third quarter valued at about $271,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Flexion Therapeutics during the third quarter valued at about $620,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Flexion Therapeutics during the fourth quarter valued at about $715,000. 62.25% of the stock is owned by hedge funds and other institutional investors.
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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