Flexion Therapeutics, Inc. (NASDAQ:FLXN) has been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $32.25.
Several research firms have recently commented on FLXN. Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $44.00 price objective on shares of Flexion Therapeutics in a research note on Thursday. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a report on Friday. ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a report on Thursday.
Flexion Therapeutics (NASDAQ:FLXN) opened at 21.87 on Friday. The stock has a 50 day moving average price of $22.48 and a 200-day moving average price of $21.22. The company’s market capitalization is $696.03 million. Flexion Therapeutics has a 12-month low of $15.44 and a 12-month high of $29.41.
In other news, insider Michael D. Clayman acquired 5,000 shares of Flexion Therapeutics stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average cost of $17.23 per share, with a total value of $86,150.00. Following the transaction, the insider now directly owns 20,146 shares of the company’s stock, valued at approximately $347,115.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark Stejbach acquired 1,580 shares of Flexion Therapeutics stock in a transaction that occurred on Friday, June 16th. The stock was purchased at an average cost of $17.02 per share, for a total transaction of $26,891.60. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Fiduciary Trust Co. bought a new position in shares of Flexion Therapeutics during the second quarter worth approximately $101,000. IFP Advisors Inc raised its position 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 period. Monarch Partners Asset Management LLC bought a new position in shares of Flexion Therapeutics during the first quarter worth approximately $279,000. BB&T Securities LLC bought a new position in shares of Flexion Therapeutics during the second quarter worth approximately $289,000. Finally, Asset Management One Co. Ltd. bought a new position in shares of Flexion Therapeutics during the first quarter worth approximately $319,000. 75.43% of the stock is currently owned by institutional investors and hedge funds.
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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