Flexion Therapeutics Inc (FLXN) Receives “Outperform” Rating from Wells Fargo & Co
Flexion Therapeutics Inc (NASDAQ:FLXN)‘s stock had its “outperform” rating reaffirmed by Wells Fargo & Co in a note issued to investors on Saturday. They currently have a $30.00 target price on the specialty pharmaceutical company’s stock. Wells Fargo & Co’s target price would suggest a potential upside of 13.77% from the company’s previous close.
Several other research firms have also commented on FLXN. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $34.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 25th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $30.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 target price on shares of Flexion Therapeutics in a report on Saturday, March 11th. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. Finally, BMO Capital Markets reaffirmed a “positive” rating and set a $33.00 target price on shares of Flexion Therapeutics in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $28.68.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down 2.19% on Friday, hitting $26.37. The stock had a trading volume of 322,925 shares. Flexion Therapeutics has a one year low of $8.16 and a one year high of $29.41. The company’s market cap is $836.75 million. The firm’s 50-day moving average is $24.28 and its 200-day moving average is $20.44.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Thursday, March 9th. The specialty pharmaceutical company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.71) by $0.07. On average, analysts expect that Flexion Therapeutics will post ($3.50) EPS for the current fiscal year.
In related news, CFO Frederick W. Driscoll sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $23.00, for a total value of $69,000.00. Following the completion of the transaction, the chief financial officer now directly owns 10,777 shares of the company’s stock, valued at approximately $247,871. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Neil Bodick sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $28.23, for a total value of $141,150.00. Following the completion of the sale, the insider now owns 46,137 shares of the company’s stock, valued at $1,302,447.51. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $407,950 over the last three months. Corporate insiders own 18.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FLXN. Stoneridge Investment Partners LLC purchased a new stake in Flexion Therapeutics during the third quarter worth $271,000. Peregrine Capital Management LLC purchased a new stake in Flexion Therapeutics during the third quarter worth $14,126,000. Jennison Associates LLC purchased a new stake in Flexion Therapeutics during the third quarter worth $402,000. Alps Advisors Inc. increased its stake in Flexion Therapeutics by 15.8% in the third quarter. Alps Advisors Inc. now owns 35,084 shares of the specialty pharmaceutical company’s stock worth $686,000 after buying an additional 4,783 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Flexion Therapeutics by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 1,631,323 shares of the specialty pharmaceutical company’s stock worth $31,876,000 after buying an additional 37,297 shares during the period. Hedge funds and other institutional investors own 62.25% 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.
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