BMO Capital Markets reaffirmed their buy rating on shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a report issued on Tuesday, June 27th.
Several other brokerages have also commented on FLXN. Royal Bank Of Canada reiterated an outperform rating and set a $44.00 price objective on shares of Flexion Therapeutics in a report on Saturday, March 11th. Cantor Fitzgerald reissued a buy rating and issued a $34.00 target price on shares of Flexion Therapeutics in a research report on Wednesday, April 26th. Zacks Investment Research raised Flexion Therapeutics from a sell rating to a hold rating in a research report on Tuesday, March 14th. Needham & Company LLC reissued a buy rating and issued a $34.00 target price on shares of Flexion Therapeutics in a research report on Monday, May 15th. Finally, Janney Montgomery Scott reissued a buy rating and issued a $30.00 target price on shares of Flexion Therapeutics in a research report on Saturday, March 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $31.10.
Shares of Flexion Therapeutics (FLXN) traded down 0.13% during midday trading on Tuesday, reaching $23.58. The company had a trading volume of 377,177 shares. Flexion Therapeutics has a one year low of $15.44 and a one year high of $29.41. The company has a 50-day moving average price of $20.08 and a 200 day moving average price of $20.83. The company’s market capitalization is $748.83 million.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by $0.02. Equities analysts anticipate that Flexion Therapeutics will post ($3.56) earnings per share for the current fiscal year.
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In other Flexion Therapeutics news, insider Michael D. Clayman bought 5,000 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were purchased at an average cost of $17.23 per share, for a total transaction of $86,150.00. Following the transaction, the insider now directly owns 20,146 shares of the company’s stock, valued at $347,115.58. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark Stejbach bought 1,580 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were acquired at an average price of $17.02 per share, for a total transaction of $26,891.60. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Verde Servicos Internacionais S.A. acquired a new stake in Flexion Therapeutics during the second quarter worth approximately $1,167,000. Driehaus Capital Management LLC boosted its stake in Flexion Therapeutics by 16.3% in the first quarter. Driehaus Capital Management LLC now owns 523,060 shares of the specialty pharmaceutical company’s stock worth $14,076,000 after buying an additional 73,353 shares during the period. Credit Suisse AG raised its position in shares of Flexion Therapeutics by 109.4% in the first quarter. Credit Suisse AG now owns 38,177 shares of the specialty pharmaceutical company’s stock worth $1,027,000 after buying an additional 19,948 shares in the last quarter. Ionic Capital Management LLC bought a new position in shares of Flexion Therapeutics during the first quarter worth $4,571,000. Finally, State Street Corp raised its position in shares of Flexion Therapeutics by 111.8% in the first quarter. State Street Corp now owns 829,254 shares of the specialty pharmaceutical company’s stock worth $22,316,000 after buying an additional 437,648 shares in the last quarter. Hedge funds and other institutional investors own 75.16% of the company’s stock.
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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