Flexion Therapeutics Inc (FLXN) Receives “Overweight” Rating from Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their overweight rating on shares of Flexion Therapeutics Inc (NASDAQ:FLXN) in a research report report published on Saturday morning. They currently have a $34.00 target price on the specialty pharmaceutical company’s stock.
Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Flexion Therapeutics from a sell rating to a hold rating in a research report on Tuesday, March 14th. Royal Bank of Canada restated an outperform rating and set a $44.00 target price on shares of Flexion Therapeutics in a research report on Saturday, March 11th. Janney Montgomery Scott restated a buy rating and set a $30.00 target price on shares of Flexion Therapeutics in a research report on Saturday, March 11th. BMO Capital Markets restated a positive rating and set a $33.00 target price on shares of Flexion Therapeutics in a research report on Tuesday, February 7th. Finally, Raymond James Financial, Inc. assumed coverage on Flexion Therapeutics in a research report on Thursday, December 22nd. They set a strong-buy rating and a $35.00 target price on the stock. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $28.68.
Flexion Therapeutics (NASDAQ:FLXN) traded down 2.19% during midday trading on Friday, reaching $26.37. The company had a trading volume of 322,925 shares. Flexion Therapeutics has a 52-week low of $8.16 and a 52-week high of $29.41. The company’s 50-day moving average is $24.28 and its 200 day moving average is $20.44. The company’s market cap is $836.75 million.
Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings data on Thursday, March 9th. The specialty pharmaceutical company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.71) by $0.07. On average, equities research analysts forecast that Flexion Therapeutics will post ($3.50) EPS for the current year.
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In related news, insider Neil Bodick sold 5,000 shares of the stock in a transaction 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 transaction, the insider now owns 46,137 shares of the company’s stock, valued at $1,302,447.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Frederick W. Driscoll sold 3,000 shares of the stock in a transaction on Thursday, March 23rd. The shares were 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 in the company, valued at approximately $247,871. The disclosure for this sale can be found here. In the last three months, insiders sold 18,000 shares of company stock worth $407,950. 18.00% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Peregrine Capital Management LLC bought a new position in shares of Flexion Therapeutics during the third quarter worth about $14,126,000. Kingdon Capital Management L.L.C. boosted its position in shares of Flexion Therapeutics by 29.2% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 1,379,486 shares of the specialty pharmaceutical company’s stock worth $26,238,000 after buying an additional 311,865 shares during the period. Novo A S boosted its position in shares of Flexion Therapeutics by 27.3% in the fourth quarter. Novo A S now owns 1,397,718 shares of the specialty pharmaceutical company’s stock worth $26,585,000 after buying an additional 300,000 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Flexion Therapeutics during the fourth quarter worth about $4,755,000. Finally, State Street Corp boosted its position in shares of Flexion Therapeutics by 27.6% in the fourth quarter. State Street Corp now owns 391,606 shares of the specialty pharmaceutical company’s stock worth $7,449,000 after buying an additional 84,770 shares during the period. 62.25% of the stock is currently owned by institutional investors and hedge funds.
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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