Flexion Therapeutics Inc. (FLXN) Trading Down 2.8%
Flexion Therapeutics Inc. (NASDAQ:FLXN) shares were down 2.8% on Wednesday . The company traded as low as $15.57 and last traded at $15.95, with a volume of 232,573 shares trading hands. The stock had previously closed at $16.41.
A number of research analysts have recently weighed in on FLXN shares. Needham & Company LLC reaffirmed 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 reissued a “buy” rating and issued a $44.00 price target on shares of Flexion Therapeutics in a report on Tuesday, April 5th. Wells Fargo & Co. began coverage on Flexion Therapeutics in a report on Tuesday, May 3rd. They issued an “outperform” rating on the stock. Zacks Investment Research cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, Janney Montgomery Scott reissued a “buy” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a report on Friday, May 27th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.56.
The stock’s market cap is $337.14 million. The stock has a 50 day moving average price of $15.03 and a 200-day moving average price of $12.76.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Thursday, May 12th. The specialty pharmaceutical company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by $0.17. On average, analysts expect that Flexion Therapeutics Inc. will post ($2.84) earnings per share for the current year.
In related news, Director Samuel D. Colella bought 714,285 shares of the company’s stock in a transaction that occurred 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Samuel D. Colella bought 25,504 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The shares were bought at an average cost of $13.71 per share, for a total transaction of $349,659.84. Following the completion of 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.
Other hedge funds recently bought and sold shares of the company. Wells Fargo & Company MN raised 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 period. Jennison Associates LLC increased its position 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 in the last quarter. Schroder Investment Management Group increased its position 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 in the last quarter. Oxford Asset Management acquired a new position in shares of Flexion Therapeutics during the fourth quarter worth about $1,901,000. Finally, Jennison Associates increased its position 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 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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