Flexion Therapeutics Inc (NASDAQ:FLXN)‘s stock had its “outperform” rating reiterated by investment analysts at Wells Fargo & Co in a report issued on Saturday. They presently have a $30.00 price objective on the specialty pharmaceutical company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 13.77% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and set a $34.00 target price on shares of Flexion Therapeutics in a research report on Saturday, March 25th. Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 11th. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 11th. Finally, BMO Capital Markets reaffirmed a “positive” rating and issued a $33.00 price target on shares of Flexion Therapeutics in a report on Tuesday, February 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.68.
Flexion Therapeutics (NASDAQ:FLXN) traded down 2.19% during midday trading on Friday, reaching $26.37. The company had a trading volume of 322,925 shares. The company’s 50-day moving average is $24.28 and its 200 day moving average is $20.44. The company’s market cap is $836.75 million. Flexion Therapeutics has a 52-week low of $8.16 and a 52-week high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Thursday, March 9th. The specialty pharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by $0.07. On average, equities research analysts forecast that Flexion Therapeutics will post ($3.50) EPS for the current year.
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In related news, 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 value of $141,150.00. Following the transaction, the insider now owns 46,137 shares of the company’s stock, valued at $1,302,447.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $69,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,777 shares in the company, valued at approximately $247,871. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock worth $407,950. 18.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FLXN. Bank of New York Mellon Corp boosted its position in shares of Flexion Therapeutics by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 1,631,323 shares of the specialty pharmaceutical company’s stock worth $31,876,000 after buying an additional 37,297 shares during the period. Guggenheim Capital LLC bought a new position in shares of Flexion Therapeutics during the fourth quarter worth about $1,326,000. Highbridge Capital Management LLC boosted its position in shares of Flexion Therapeutics by 122.7% in the third quarter. Highbridge Capital Management LLC now owns 79,223 shares of the specialty pharmaceutical company’s stock worth $1,548,000 after buying an additional 43,646 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Flexion Therapeutics by 0.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,850 shares of the specialty pharmaceutical company’s stock worth $1,005,000 after buying an additional 450 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Flexion Therapeutics during the fourth quarter worth about $715,000. 62.25% of the stock is currently 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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