Cantor Fitzgerald reaffirmed their overweight rating on shares of Flexion Therapeutics Inc (NASDAQ:FLXN) in a research note issued to investors on Saturday morning. The brokerage currently has a $34.00 price objective on the specialty pharmaceutical company’s stock.
A number of other equities research analysts also recently commented on FLXN. BMO Capital Markets reiterated an outperform rating and set a $33.00 price objective on shares of Flexion Therapeutics in a research report on Thursday, December 15th. Raymond James Financial, Inc. assumed coverage on Flexion Therapeutics in a report on Thursday, December 22nd. They issued a strong-buy rating and a $35.00 target price for the company. Zacks Investment Research upgraded Flexion Therapeutics from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Monday, January 9th. Janney Montgomery Scott restated a buy rating and issued a $30.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 11th. Finally, Royal Bank of Canada restated an outperform rating and issued a $44.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 11th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $28.68.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down 2.19% on Friday, hitting $26.37. The stock had a trading volume of 322,925 shares. The company’s market cap is $836.75 million. Flexion Therapeutics has a one year low of $8.16 and a one year high of $29.41. The firm’s 50-day moving average is $24.28 and its 200-day moving average is $20.44.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Thursday, March 9th. The specialty pharmaceutical company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by $0.07. On average, analysts expect that Flexion Therapeutics will post ($3.50) EPS for the current fiscal year.
In other Flexion Therapeutics news, CFO Frederick W. Driscoll sold 3,000 shares of the stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. Following the transaction, the chief financial officer now directly owns 10,777 shares of the company’s stock, valued at $247,871. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Neil Bodick sold 5,000 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $28.23, for a total transaction of $141,150.00. Following the transaction, the insider now directly owns 46,137 shares in the company, valued at $1,302,447.51. The disclosure for this sale can be found here. Insiders sold 18,000 shares of company stock worth $407,950 over the last ninety days. 18.00% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. 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 valued at $197,000 after buying an additional 67 shares during the last quarter. SECOR Capital Advisors LP acquired a new position in Flexion Therapeutics during the third quarter valued at approximately $214,000. Stoneridge Investment Partners LLC acquired a new position in Flexion Therapeutics during the third quarter valued at approximately $271,000. Jennison Associates LLC acquired a new position in Flexion Therapeutics during the third quarter valued at approximately $402,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Flexion Therapeutics during the third quarter valued at approximately $620,000. 62.25% of the stock is currently owned by hedge funds and other institutional investors.
Flexion Therapeutics Company Profile
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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