Flexion Therapeutics Inc. (NASDAQ:FLXN) traded down 4.4% during trading on Thursday . The company traded as low as $15.30 and last traded at $15.53, with a volume of 216,096 shares changing hands. The stock had previously closed at $16.24.

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective (up from $28.00) on shares of Flexion Therapeutics in a research report on Friday, May 27th. Cantor Fitzgerald restated a “buy” rating on shares of Flexion Therapeutics in a report on Thursday, May 26th. Janney Montgomery Scott restated a “buy” rating and issued a $30.00 target price on shares of Flexion Therapeutics in a report on Friday, May 27th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets began coverage on shares of Flexion Therapeutics in a report on Tuesday, June 28th. They issued an “outperform” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $31.81.

The firm has a 50 day moving average price of $14.22 and a 200 day moving average price of $12.84. The firm’s market capitalization is $340.59 million.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Thursday, May 12th. The specialty pharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by $0.17. On average, equities analysts forecast that Flexion Therapeutics Inc. will post ($2.84) earnings per share for the current year.

In other news, Director Samuel D. Colella acquired 714,285 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were bought at an average price of $14.00 per share, for a total transaction of $9,999,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samuel D. Colella acquired 6,778 shares of the company’s stock in a transaction dated Monday, June 20th. The shares were purchased at an average price of $13.84 per share, for a total transaction of $93,807.52. Following the purchase, the director now directly owns 3,435 shares of the company’s stock, valued at $47,540.40. The disclosure for this purchase can be found here.

Several hedge funds have recently bought and sold shares of FLXN. Jennison Associates raised its stake in Flexion Therapeutics by 35.1% in the third quarter. Jennison Associates now owns 2,831,268 shares of the specialty pharmaceutical company’s stock worth $42,073,000 after buying an additional 736,261 shares in the last quarter. Oxford Asset Management purchased a new stake in Flexion Therapeutics during the fourth quarter worth about $1,901,000. Schroder Investment Management Group raised its stake in Flexion Therapeutics by 21.0% in the fourth quarter. Schroder Investment Management Group now owns 470,200 shares of the specialty pharmaceutical company’s stock worth $9,061,000 after buying an additional 81,500 shares in the last quarter. Jennison Associates LLC raised its stake in Flexion Therapeutics by 2.7% in the fourth quarter. Jennison Associates LLC now owns 2,907,755 shares of the specialty pharmaceutical company’s stock worth $56,032,000 after buying an additional 76,487 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Flexion Therapeutics by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 430,545 shares of the specialty pharmaceutical company’s stock worth $8,296,000 after buying an additional 59,866 shares in the last quarter.

Flexion Therapeutics, Inc is a specialty pharmaceutical company. The Company is focused on the development and commercialization of therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis and post-operative pain. The Company’s portfolio of product candidates addresses the OA pain treatment spectrum, from moderate to severe pain.

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