Flexion Therapeutics Inc (FLXN) Given “Outperform” Rating at Wells Fargo & Co

Flexion Therapeutics Inc (NASDAQ:FLXN)‘s stock had its “outperform” rating reiterated by analysts at Wells Fargo & Co in a research note issued to investors on Saturday. They presently have a $30.00 price objective on the specialty pharmaceutical company’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 13.77% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Raymond James Financial, Inc. began coverage on shares of Flexion Therapeutics in a research report on Thursday, December 22nd. They issued a “strong-buy” rating and a $35.00 target price for the company. Zacks Investment Research raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, January 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $34.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 25th. Janney Montgomery Scott reissued a “buy” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 11th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $28.68.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down 2.19% during midday trading on Friday, hitting $26.37. 322,925 shares of the stock were exchanged. The company’s market cap is $836.75 million. The stock has a 50 day moving average price of $24.28 and a 200-day moving average price of $20.44. Flexion Therapeutics has a 12 month low of $8.16 and a 12 month high of $29.41.

Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Thursday, March 9th. The specialty pharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.71) by $0.07. On average, analysts predict that Flexion Therapeutics will post ($3.50) EPS for the current year.

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In other Flexion Therapeutics news, CFO Frederick W. Driscoll sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $23.00, for a total transaction of $69,000.00. Following the completion of the sale, the chief financial officer now directly owns 10,777 shares of the company’s stock, valued at $247,871. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Neil Bodick sold 5,000 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $20.41, for a total transaction of $102,050.00. Following the sale, the insider now directly owns 50,937 shares of the company’s stock, valued at $1,039,624.17. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $407,950 over the last ninety days. Insiders own 18.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Keybank National Association OH raised its stake in Flexion Therapeutics by 0.7% in the fourth quarter. Keybank National Association OH now owns 10,357 shares of the specialty pharmaceutical company’s stock worth $197,000 after buying an additional 67 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Flexion Therapeutics by 0.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,850 shares of the specialty pharmaceutical company’s stock worth $1,005,000 after buying an additional 450 shares in the last quarter. Alps Advisors Inc. raised its stake in Flexion Therapeutics by 15.8% in the third quarter. Alps Advisors Inc. now owns 35,084 shares of the specialty pharmaceutical company’s stock worth $686,000 after buying an additional 4,783 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Flexion Therapeutics by 6.3% in the third quarter. JPMorgan Chase & Co. now owns 119,050 shares of the specialty pharmaceutical company’s stock worth $2,326,000 after buying an additional 7,075 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Flexion Therapeutics by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 43,468 shares of the specialty pharmaceutical company’s stock worth $827,000 after buying an additional 7,610 shares in the last quarter. 62.25% of the stock is owned by institutional investors.

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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