Flexion Therapeutics, Inc. (FLXN) Receives Consensus Recommendation of “Buy” from Brokerages
Flexion Therapeutics, Inc. (NASDAQ:FLXN) has received an average rating of “Buy” from the eleven analysts that are covering the company, MarketBeat reports. One equities research 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. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $32.25.
A number of research analysts have recently weighed in on the company. BMO Capital Markets restated a “buy” rating on shares of Flexion Therapeutics in a report on Friday. Needham & Company LLC restated 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, August 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Flexion Therapeutics in a report on Thursday, August 10th. Zacks Investment Research lowered Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a report on Wednesday, July 12th.
In other Flexion Therapeutics news, insider Michael D. Clayman purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was bought at an average cost of $17.23 per share, with a total value of $86,150.00. Following the completion of the transaction, the insider now owns 20,146 shares of the company’s stock, valued at approximately $347,115.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Stejbach purchased 1,580 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were acquired 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 have recently modified their holdings of the stock. Fiduciary Trust Co. acquired a new stake in shares of Flexion Therapeutics during the second quarter worth approximately $101,000. 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. Advisor Group Inc. increased its stake in shares of Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 3,500 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Flexion Therapeutics during the first quarter worth approximately $279,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Flexion Therapeutics during the first quarter worth approximately $319,000. 78.01% of the stock is owned by institutional investors.
Flexion Therapeutics (NASDAQ FLXN) traded down 1.59% on Tuesday, hitting $22.33. The company’s stock had a trading volume of 186,058 shares. The firm has a 50 day moving average of $22.63 and a 200-day moving average of $21.33. The stock’s market cap is $712.44 million. Flexion Therapeutics has a 12 month low of $15.44 and a 12 month high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.80) by $0.11. On average, analysts expect that Flexion Therapeutics will post ($3.68) earnings per share for the current fiscal year.
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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