Flexion Therapeutics, Inc. (NASDAQ:FLXN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Thursday. They presently have a $36.00 target price on the specialty pharmaceutical company’s stock, up from their prior target price of $34.00. Needham & Company LLC’s price target would suggest a potential upside of 65.37% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald set a $40.00 target price on shares of Flexion Therapeutics and gave the stock a “buy” rating in a report on Monday, May 22nd. Zacks Investment Research cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Janney Montgomery Scott reiterated a “buy” rating and set a $35.00 target price (up from $30.00) on shares of Flexion Therapeutics in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $44.00 target price on shares of Flexion Therapeutics in a report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given 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 price target of $31.30.

Shares of Flexion Therapeutics (NASDAQ:FLXN) traded up 1.19% during midday trading on Thursday, hitting $22.03. 156,482 shares of the stock were exchanged. Flexion Therapeutics has a 12 month low of $15.44 and a 12 month high of $29.41. The firm has a 50 day moving average of $22.41 and a 200-day moving average of $21.21. The stock’s market cap is $701.13 million.

Flexion Therapeutics (NASDAQ:FLXN) last issued its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by $0.11. Equities research analysts anticipate that Flexion Therapeutics will post ($3.67) EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece of content was first published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/10/needham-company-llc-reaffirms-buy-rating-for-flexion-therapeutics-inc-flxn.html.

In other news, Director Mark Stejbach purchased 1,580 shares of the stock in a transaction dated Friday, June 16th. The shares were acquired at an average cost of $17.02 per share, for a total transaction of $26,891.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael D. Clayman purchased 5,000 shares of the stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $17.23 per share, for a total transaction of $86,150.00. Following the completion of the acquisition, the insider now directly owns 20,146 shares in the company, valued at approximately $347,115.58. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Fiduciary Trust Co. purchased a new stake in Flexion Therapeutics during the second quarter worth $101,000. IFP Advisors Inc boosted its stake in Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after buying an additional 1,000 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new stake in Flexion Therapeutics during the first quarter worth $279,000. BB&T Securities LLC purchased a new stake in Flexion Therapeutics during the second quarter worth $289,000. Finally, Asset Management One Co. Ltd. purchased a new stake in Flexion Therapeutics during the first quarter worth $319,000. Institutional investors and hedge funds own 75.43% of the company’s stock.

About Flexion Therapeutics

Flexion Therapeutics, Inc is a United States-based specialty pharmaceutical company. The Company is focused on the development and commercialization of local therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis. The Company’s lead product candidate, Zilretta, is a late-stage, injectable, extended-release, intra-articular (IA) investigational steroid.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

Receive News & Ratings for Flexion Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.