Flexion Therapeutics, Inc. (FLXN) Given Average Rating of “Buy” by Brokerages
Shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.
A number of research firms recently commented on FLXN. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Wells Fargo & Company reissued 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 shares of Flexion Therapeutics and gave the company a “buy” rating in a research report on Sunday, March 26th. ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Finally, Janney Montgomery Scott reissued a “buy” rating and set a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th.
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Shares of Flexion Therapeutics (NASDAQ FLXN) traded up 1.02% during trading on Friday, reaching $23.82. 403,405 shares of the company were exchanged. The firm’s market capitalization is $756.45 million. The company’s 50-day moving average is $20.08 and its 200 day moving average is $20.83. Flexion Therapeutics has a 1-year low of $15.44 and a 1-year high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.73) by $0.02. Equities research analysts expect that Flexion Therapeutics will post ($3.56) EPS for the current fiscal year.
In related news, insider Michael D. Clayman purchased 5,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was acquired 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 approximately $347,115.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Stejbach purchased 1,580 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was bought at an average cost of $17.02 per share, with a total value of $26,891.60. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Verde Servicos Internacionais S.A. bought a new position in Flexion Therapeutics during the second quarter worth about $1,167,000. Driehaus Capital Management LLC boosted its position 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 in the last quarter. Credit Suisse AG boosted its position in 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 Flexion Therapeutics during the first quarter worth about $4,571,000. Finally, State Street Corp boosted its position in 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. 75.16% of the stock is owned by institutional investors and hedge funds.
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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