Flexion Therapeutics Inc. (NASDAQ:FLXN)’s share price dropped 3% during trading on Monday . The stock traded as low as $16.15 and last traded at $16.35, with a volume of 208,293 shares trading hands. The stock had previously closed at $16.85.

FLXN has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Flexion Therapeutics in a research note on Monday, April 4th. Cantor Fitzgerald reaffirmed 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 for the company. 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 reaffirmed a “buy” rating and set a $30.00 price objective on shares of Flexion Therapeutics in a research report on Friday, May 27th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.17.

The company has a 50-day moving average price of $15.06 and a 200-day moving average price of $12.62. The company’s market capitalization is $358.28 million.

Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings results on Thursday, May 12th. The specialty pharmaceutical company reported ($0.78) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by $0.17. Equities analysts forecast that Flexion Therapeutics Inc. will post ($2.75) EPS for the current fiscal year.

In other news, Director Samuel D. Colella purchased 6,778 shares of the company’s stock in a transaction on Monday, June 20th. The shares were acquired at an average price of $13.84 per share, for a total transaction of $93,807.52. Following the purchase, the director now owns 3,435 shares in the company, valued at $47,540.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Samuel D. Colella purchased 25,504 shares of the company’s stock in a transaction on Tuesday, June 21st. The shares were purchased at an average price of $13.71 per share, for a total transaction of $349,659.84. Following the purchase, the director now owns 3,435 shares in the company, valued at approximately $47,093.85. The disclosure for this purchase can be found here.

A number of hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased 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 valued at $56,032,000 after buying an additional 76,487 shares during the last quarter. Schroder Investment Management Group increased 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 valued at $9,061,000 after buying an additional 81,500 shares during the last quarter. Wells Fargo & Company MN increased 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 valued at $8,296,000 after buying an additional 59,866 shares during the last quarter. Finally, Jennison Associates increased 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 valued at $42,073,000 after buying an additional 736,261 shares during 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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