Flexion Therapeutics Inc. (FLXN) Stock Price Down 1.9%
Flexion Therapeutics Inc. (NASDAQ:FLXN) shares fell 1.9% on Tuesday . The company traded as low as $17.60 and last traded at $17.66, with a volume of 65,566 shares trading hands. The stock had previously closed at $18.00.
A number of research firms have recently weighed in on FLXN. Lake Street Capital initiated coverage on Flexion Therapeutics in a research note on Thursday, July 21st. They issued a “buy” rating and a $38.00 price target on the stock. BMO Capital Markets restated a “buy” rating on shares of Flexion Therapeutics in a research report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, July 13th. Royal Bank Of Canada restated a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, June 30th. Nine investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $33.17.
The stock’s market capitalization is $460.98 million. The stock has a 50-day moving average price of $16.78 and a 200-day moving average price of $12.99.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Wednesday, August 3rd. The specialty pharmaceutical company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.04. On average, equities analysts forecast that Flexion Therapeutics Inc. will post ($2.69) earnings per share for the current year.
In related news, Director Samuel D. Colella bought 6,778 shares of the firm’s stock in a transaction on Monday, June 20th. The shares were purchased at an average price of $13.84 per share, with a total value of $93,807.52. Following the completion of the purchase, the director now owns 3,435 shares in the company, valued at approximately $47,540.40. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Samuel D. Colella bought 714,285 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were bought at an average cost of $14.00 per share, for a total transaction of $9,999,990.00. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Flexion Therapeutics stock. Jennison Associates LLC increased its position in Flexion Therapeutics Inc. (NASDAQ:FLXN) by 2.7% during the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent SEC filing.
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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