Flexion Therapeutics, Inc. (FLXN) Given “Buy” Rating at Needham & Company LLC
Flexion Therapeutics, Inc. (NASDAQ:FLXN)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Sunday. They currently have a $36.00 price target on the specialty pharmaceutical company’s stock. Needham & Company LLC’s price objective points to a potential upside of 49.25% from the stock’s previous close.
A number of other analysts have also weighed in on the stock. Royal Bank Of Canada set a $44.00 price objective on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Monday, September 11th. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Northland Securities assumed coverage on shares of Flexion Therapeutics in a research note on Thursday, August 24th. They issued an “outperform” rating and a $40.00 price objective on the stock. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a research note on Friday, August 11th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $31.50.
Flexion Therapeutics (NASDAQ FLXN) opened at 24.12 on Friday. The stock’s market cap is $769.55 million. The stock’s 50 day moving average is $23.25 and its 200 day moving average is $22.01. Flexion Therapeutics has a 52 week low of $15.93 and a 52 week high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data 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). Analysts predict that Flexion Therapeutics will post ($3.70) EPS for the current year.
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In other news, insider Yamo Deniz purchased 3,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average cost of $24.15 per share, with a total value of $72,450.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at approximately $120,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 5,375 shares of company stock worth $131,575 over the last three months. 15.98% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fiduciary Trust Co. purchased a new stake in Flexion Therapeutics during the second quarter worth $101,000. IFP Advisors Inc boosted its holdings in Flexion Therapeutics by 24.5% during 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 in the last quarter. Advisor Group Inc. boosted its holdings in Flexion Therapeutics by 205.9% during 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 in the last quarter. Voya Investment Management LLC boosted its holdings in Flexion Therapeutics by 25.8% during the second quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock worth $261,000 after buying an additional 2,651 shares in the last quarter. Finally, BB&T Securities LLC purchased a new stake in Flexion Therapeutics during the second quarter worth $289,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
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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