Flexion Therapeutics Inc. (FLXN) Trading 2.6% Higher
Flexion Therapeutics Inc. (NASDAQ:FLXN) traded up 2.6% on Friday . The stock traded as high as $15.74 and last traded at $15.51, with a volume of 81,607 shares trading hands. The stock had previously closed at $15.12.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday. Royal Bank Of Canada reissued a “buy” rating on shares of Flexion Therapeutics in a research note on Thursday, June 30th. Wells Fargo & Co. reissued a “buy” rating on shares of Flexion Therapeutics in a research note on Thursday, June 30th. Janney Montgomery Scott reissued a “buy” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a research note on Friday, July 1st. Finally, BMO Capital Markets assumed coverage on Flexion Therapeutics in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $35.00 price target for the company. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Flexion Therapeutics presently has a consensus rating of “Buy” and an average price target of $32.56.
The company’s 50 day moving average is $15.13 and its 200 day moving average is $12.78. The firm’s market cap is $336.71 million.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings results on Thursday, May 12th. The specialty pharmaceutical company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.17. Equities research analysts forecast that Flexion Therapeutics Inc. will post ($2.84) earnings per share for the current year.
In other news, Director Samuel D. Colella purchased 25,504 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was purchased at an average price of $13.71 per share, with a total value of $349,659.84. Following the completion of the purchase, the director now directly owns 3,435 shares in the company, valued at approximately $47,093.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Samuel D. Colella purchased 714,285 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were purchased at an average cost of $14.00 per share, with a total value of $9,999,990.00. The disclosure for this purchase can be found here.
Other large investors have recently modified their holdings of the company. Jennison Associates raised its stake in shares of Flexion Therapeutics by 35.1% in the third quarter. Jennison Associates now owns 2,831,268 shares of the specialty pharmaceutical company’s stock valued at $42,073,000 after buying an additional 736,261 shares during the period. Schroder Investment Management Group increased its position 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 valued at $9,061,000 after buying an additional 81,500 shares in the last quarter. Oxford Asset Management bought a new position in Flexion Therapeutics during the fourth quarter valued at approximately $1,901,000. Wells Fargo & Company MN increased its position 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 valued at $8,296,000 after buying an additional 59,866 shares in the last quarter. Finally, Jennison Associates LLC increased its position 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 valued at $56,032,000 after buying an additional 76,487 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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