Flexion Therapeutics, Inc. (NASDAQ:FLXN) Earns Buy Rating from Janney Montgomery Scott

Janney Montgomery Scott reissued their buy rating on shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a report released on Wednesday. Janney Montgomery Scott currently has a $35.00 price target on the specialty pharmaceutical company’s stock, up from their prior price target of $30.00.

Several other research analysts have also commented on FLXN. Cantor Fitzgerald reissued a buy rating and issued a $34.00 price target (down from $37.00) on shares of Flexion Therapeutics in a research report on Tuesday, March 14th. Zacks Investment Research raised Flexion Therapeutics from a sell rating to a hold rating in a research report on Tuesday, March 14th. Wells Fargo & Company reaffirmed an outperform rating and set a $30.00 target price on shares of Flexion Therapeutics in a research report on Saturday, March 25th. Royal Bank Of Canada set a $44.00 target price on Flexion Therapeutics and gave the company a buy rating in a research report on Sunday, March 26th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $34.00 target price on shares of Flexion Therapeutics in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $31.10.

Flexion Therapeutics (NASDAQ FLXN) traded down 2.73% during midday trading on Wednesday, hitting $23.15. The company had a trading volume of 413,932 shares. The stock’s market capitalization is $735.17 million. Flexion Therapeutics has a 52 week low of $15.09 and a 52 week high of $29.41. The stock has a 50 day moving average price of $18.40 and a 200-day moving average price of $20.49.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by $0.02. On average, equities analysts predict that Flexion Therapeutics will post ($3.56) EPS for the current year.

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In other Flexion Therapeutics news, Director Mark Stejbach bought 1,580 shares of Flexion Therapeutics stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average cost of $17.02 per share, with a total value of $26,891.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Clayman bought 5,000 shares of Flexion Therapeutics stock in a transaction that occurred on Monday, June 5th. The shares were acquired at an average cost of $17.23 per share, for a total transaction of $86,150.00. Following the completion of the transaction, the insider now directly owns 20,146 shares in the company, valued at $347,115.58. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC increased its stake in Flexion Therapeutics by 3.1% in the first quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock valued at $1,205,000 after buying an additional 1,328 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Flexion Therapeutics by 5.7% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 55,853 shares of the specialty pharmaceutical company’s stock valued at $1,503,000 after buying an additional 3,003 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock valued at $365,000 after buying an additional 3,200 shares during the last quarter. Swiss National Bank increased its stake in Flexion Therapeutics by 13.2% in the first quarter. Swiss National Bank now owns 35,911 shares of the specialty pharmaceutical company’s stock valued at $966,000 after buying an additional 4,200 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Flexion Therapeutics by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 100,701 shares of the specialty pharmaceutical company’s stock valued at $2,710,000 after buying an additional 4,617 shares during the last quarter. Institutional investors and hedge funds own 75.16% of the company’s stock.

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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