Flexion Therapeutics, Inc. (FLXN) Receives Average Recommendation of “Buy” from Brokerages
Shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) have earned a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.50.
A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Northland Securities assumed coverage on shares of Flexion Therapeutics in a research report on Thursday, August 24th. They issued an “outperform” rating and a $40.00 target price for the company. BMO Capital Markets reissued a “buy” rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th.
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In other news, Director Mark Stejbach acquired 1,580 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $17.02 per share, with a total value of $26,891.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.98% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FLXN. Teachers Advisors LLC lifted its position in Flexion Therapeutics by 21.2% during the fourth quarter. Teachers Advisors LLC now owns 43,468 shares of the specialty pharmaceutical company’s stock worth $827,000 after purchasing an additional 7,610 shares during the period. Bank of Montreal Can lifted its holdings in shares of Flexion Therapeutics by 15.1% in the first quarter. Bank of Montreal Can now owns 82,020 shares of the specialty pharmaceutical company’s stock worth $2,207,000 after acquiring an additional 10,750 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock worth $365,000 after acquiring an additional 3,200 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Flexion Therapeutics by 25.1% in the first quarter. Wells Fargo & Company MN now owns 124,717 shares of the specialty pharmaceutical company’s stock worth $3,356,000 after acquiring an additional 25,047 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Flexion Therapeutics in the first quarter worth about $2,018,000. 82.75% of the stock is owned by institutional investors and hedge funds.
Flexion Therapeutics (NASDAQ FLXN) traded down 0.46% during trading on Friday, hitting $23.76. 363,866 shares of the stock were exchanged. The firm has a 50-day moving average of $23.31 and a 200-day moving average of $21.86. The stock’s market capitalization is $758.06 million. Flexion Therapeutics has a 52 week low of $15.44 and a 52 week high of $29.41.
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. Equities research analysts anticipate that Flexion Therapeutics will post ($3.70) earnings per share for the current fiscal year.
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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