Flexion Therapeutics, Inc. (FLXN) Now Covered by Northland Securities
Northland Securities started coverage on shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm issued an outperform rating and a $40.00 price objective on the specialty pharmaceutical company’s stock.
FLXN has been the topic of a number of other reports. Zacks Investment Research raised Flexion Therapeutics from a sell rating to a hold rating in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed an outperform rating and set a $44.00 price target on shares of Flexion Therapeutics in a report on Thursday, August 10th. BMO Capital Markets reaffirmed a buy rating on shares of Flexion Therapeutics in a report on Friday, August 11th. ValuEngine raised Flexion Therapeutics from a sell rating to a hold rating in a report on Wednesday, June 21st. Finally, Needham & Company LLC reaffirmed a buy rating and set a $36.00 price target (up from $34.00) on shares of Flexion Therapeutics in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $32.09.
Flexion Therapeutics (NASDAQ:FLXN) opened at 24.48 on Thursday. The firm’s market capitalization is $781.03 million. The company’s 50-day moving average is $23.03 and its 200-day moving average is $21.52. Flexion Therapeutics has a one year low of $15.44 and a one year high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by $0.11. Equities analysts forecast that Flexion Therapeutics will post ($3.70) earnings per share for the current fiscal year.
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In other news, insider Michael D. Clayman bought 5,000 shares of the stock in a transaction on Monday, June 5th. The shares were bought at an average price of $17.23 per share, with a total value of $86,150.00. Following the completion of the acquisition, the insider now owns 20,146 shares in the company, valued at $347,115.58. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Stejbach bought 1,580 shares of the stock in a transaction on Friday, June 16th. The stock was purchased at an average cost of $17.02 per share, for a total transaction of $26,891.60. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Flexion Therapeutics by 27.9% in the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock worth $54,921,000 after buying an additional 591,981 shares in the last quarter. Capital World Investors increased its position in Flexion Therapeutics by 2.0% in the second quarter. Capital World Investors now owns 2,538,000 shares of the specialty pharmaceutical company’s stock worth $51,318,000 after buying an additional 49,000 shares in the last quarter. State Street Corp increased its position in Flexion Therapeutics by 66.3% in the second quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock worth $27,888,000 after buying an additional 549,948 shares in the last quarter. Vanguard Group Inc. increased its position in Flexion Therapeutics by 5.9% in the second quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock worth $21,321,000 after buying an additional 59,143 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its position in Flexion Therapeutics by 58.7% in the second quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock worth $20,588,000 after buying an additional 376,745 shares in the last quarter. 82.75% of the stock is currently owned by institutional investors.
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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