Flexion Therapeutics, Inc. (FLXN) Receives $32.50 Average PT from Brokerages

Shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $33.63.

Several equities analysts have issued reports on FLXN shares. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $44.00 target price on shares of Flexion Therapeutics in a research report on Thursday, August 10th. ValuEngine raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price on shares of Flexion Therapeutics in a research report on Sunday, September 17th. Finally, Wells Fargo & Company set a $39.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a report on Friday.

Shares of Flexion Therapeutics (NASDAQ FLXN) traded up 10.36% during midday trading on Wednesday, reaching $29.93. 8,209,976 shares of the company’s stock were exchanged. Flexion Therapeutics has a 12 month low of $15.93 and a 12 month high of $32.25. The stock’s market cap is $954.92 million. The company’s 50 day moving average is $24.68 and its 200-day moving average is $22.57.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11). Equities analysts forecast that Flexion Therapeutics will post ($3.74) EPS for the current fiscal year.

In other Flexion Therapeutics news, insider Yamo Deniz acquired 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were purchased at an average cost of $24.15 per share, for a total transaction of $72,450.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at $120,750. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have purchased 5,375 shares of company stock worth $131,575. 15.98% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fiduciary Trust Co. purchased a new position in Flexion Therapeutics during the second quarter valued at $101,000. IFP Advisors Inc raised 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 purchasing an additional 1,000 shares during the last quarter. Advisor Group Inc. raised 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 purchasing an additional 3,500 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Flexion Therapeutics by 25.8% in the second quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock worth $261,000 after purchasing an additional 2,651 shares during the last quarter. Finally, BB&T Securities LLC purchased a new position in shares of Flexion Therapeutics in the second quarter worth $289,000. Institutional investors own 83.26% of the company’s stock.

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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.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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