Janney Montgomery Scott reiterated their buy rating on shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a research note released on Wednesday, July 12th. They currently have a $35.00 price target on the specialty pharmaceutical company’s stock, up from their previous price target of $30.00.
Several other research analysts also recently commented on the company. Needham & Company LLC reiterated a buy rating and set a $34.00 target price on shares of Flexion Therapeutics in a research note on Monday, May 15th. Cantor Fitzgerald set a $40.00 price target on Flexion Therapeutics and gave the stock a buy rating in a report on Monday, May 22nd. Wells Fargo & Company reissued an outperform rating and set a $30.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 25th. BMO Capital Markets reissued a buy rating on shares of Flexion Therapeutics in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada restated a buy rating and set a $44.00 price objective on shares of Flexion Therapeutics in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Flexion Therapeutics presently has an average rating of Buy and a consensus price target of $31.30.
Flexion Therapeutics (NASDAQ:FLXN) opened at 22.83 on Wednesday. Flexion Therapeutics has a one year low of $15.44 and a one year high of $29.41. The firm’s market cap is $726.59 million. The stock’s 50 day moving average is $22.55 and its 200 day moving average is $21.25.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.80) by $0.11. On average, equities research analysts expect that Flexion Therapeutics will post ($3.67) earnings per share for the current year.
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In other news, Director Mark Stejbach acquired 1,580 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was bought at an average cost of $17.02 per share, for a total transaction of $26,891.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Clayman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average price of $17.23 per share, with a total value of $86,150.00. Following the completion of the acquisition, the insider now owns 20,146 shares in the company, valued at $347,115.58. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of FLXN. Schwab Charles Investment Management Inc. increased its stake in shares of Flexion Therapeutics by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock worth $2,047,000 after buying an additional 513 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Flexion Therapeutics by 5.5% in the second quarter. ProShare Advisors LLC now owns 18,750 shares of the specialty pharmaceutical company’s stock worth $379,000 after buying an additional 982 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. Teachers Advisors LLC increased its position in shares of 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 in the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Flexion Therapeutics by 7.1% in the second quarter. Alps Advisors Inc. now owns 28,666 shares of the specialty pharmaceutical company’s stock valued at $580,000 after buying an additional 1,888 shares in the last quarter. 75.43% of the stock is 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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