Flexion Therapeutics Inc. (NASDAQ:FLXN)’s share price dropped 1.9% during mid-day trading on Tuesday . The company traded as low as $17.60 and last traded at $17.66, with a volume of 65,566 shares traded. The stock had previously closed at $18.00.

FLXN has been the subject of a number of recent research reports. BMO Capital Markets initiated coverage on Flexion Therapeutics in a report on Tuesday, June 28th. They issued an “outperform” rating and a $35.00 target price for the company. Lake Street Capital initiated coverage on Flexion Therapeutics in a report on Thursday, July 21st. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research raised Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, July 13th. Janney Montgomery Scott reissued a “buy” rating and issued a $30.00 target price on shares of Flexion Therapeutics in a report on Friday, July 1st. Finally, Vetr raised Flexion Therapeutics from a “buy” rating to a “strong-buy” rating and set a $15.50 target price for the company in a report on Monday, June 13th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $33.17.

The firm’s market cap is $491.53 million. The company has a 50 day moving average price of $16.75 and a 200-day moving average price of $12.96.

Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.04. Equities research analysts anticipate that Flexion Therapeutics Inc. will post ($2.69) earnings per share for the current year.

In other news, Director Samuel D. Colella acquired 714,285 shares of Flexion Therapeutics stock in a transaction dated Wednesday, June 8th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samuel D. Colella acquired 25,504 shares of Flexion Therapeutics stock in a transaction dated Tuesday, June 21st. The shares were purchased at an average price of $13.71 per share, with a total value of $349,659.84. Following the acquisition, the director now owns 3,435 shares of the company’s stock, valued at $47,093.85. The disclosure for this purchase can be found here.

An institutional investor recently raised its position in Flexion Therapeutics stock. Jennison Associates LLC raised its position in shares of Flexion Therapeutics Inc. (NASDAQ:FLXN) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,907,755 shares of the specialty pharmaceutical company’s stock after buying an additional 76,487 shares during the period. Jennison Associates LLC owned about 13.50% of Flexion Therapeutics worth $56,032,000 at the end of the most recent reporting 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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