Flexion Therapeutics Inc. (NASDAQ:FLXN) dropped 4.2% during mid-day trading on Tuesday . The stock traded as low as $15.22 and last traded at $15.23, with a volume of 71,077 shares changing hands. The stock had previously closed at $15.90.

FLXN has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Flexion Therapeutics in a research report on Monday, April 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $44.00 price objective on shares of Flexion Therapeutics in a research report on Tuesday, April 5th. Wells Fargo & Co. initiated coverage on shares of Flexion Therapeutics in a research report on Tuesday, May 3rd. They set an “outperform” rating on the stock. Zacks Investment Research cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 17th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $30.00 price objective on shares of Flexion Therapeutics in a research report on Friday, May 27th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $33.17.

The firm’s 50-day moving average price is $15.06 and its 200-day moving average price is $12.68. The stock’s market cap is $365.59 million.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Thursday, May 12th. The specialty pharmaceutical company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.17. On average, equities analysts expect that Flexion Therapeutics Inc. will post ($2.84) EPS for the current fiscal year.

In other news, Director Samuel D. Colella acquired 25,504 shares of the firm’s stock in a transaction on Tuesday, June 21st. The shares were bought at an average price of $13.71 per share, for a total transaction of $349,659.84. Following the acquisition, the director now owns 3,435 shares of the company’s stock, valued at approximately $47,093.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Samuel D. Colella acquired 714,285 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $9,999,990.00. The disclosure for this purchase can be found here.

Other hedge funds and institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of 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 during the last quarter. Schroder Investment Management Group increased its stake in shares of 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 during the period. Jennison Associates increased 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 worth $42,073,000 after buying an additional 736,261 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of 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 during the period.

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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