Flexion Therapeutics Inc (FLXN) Receives “Buy” Rating from Northland Securities
Flexion Therapeutics Inc (NASDAQ:FLXN)‘s stock had its “buy” rating reaffirmed by equities researchers at Northland Securities in a report issued on Wednesday. They presently have a $40.00 price objective on the specialty pharmaceutical company’s stock. Northland Securities’ price target would suggest a potential upside of 51.00% from the stock’s current price.
FLXN has been the subject of several other research reports. Royal Bank Of Canada reissued a “buy” rating and set a $44.00 price target on shares of Flexion Therapeutics in a report on Friday, July 7th. Zacks Investment Research downgraded Flexion Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Cantor Fitzgerald set a $40.00 price objective on Flexion Therapeutics and gave the company a “buy” rating in a research report on Monday, June 12th. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Tuesday, June 27th. Finally, Janney Montgomery Scott reiterated a “buy” rating and set a $35.00 price objective (up from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.50.
Shares of Flexion Therapeutics (NASDAQ:FLXN) opened at 26.49 on Wednesday. Flexion Therapeutics has a 12 month low of $15.93 and a 12 month high of $29.41. The company’s market capitalization is $845.16 million. The stock’s 50 day moving average price is $24.20 and its 200 day moving average price is $22.44.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data 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). On average, analysts forecast that Flexion Therapeutics will post ($3.74) EPS for the current year.
In related news, insider Yamo Deniz bought 3,000 shares of the stock in a transaction dated Friday, September 1st. The shares were purchased at an average price of $24.15 per share, with a total value of $72,450.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at $120,750. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have bought 5,375 shares of company stock worth $131,575. Company insiders own 15.98% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Ardsley Advisory Partners bought a new stake in Flexion Therapeutics in the 2nd quarter worth approximately $3,338,000. Wasatch Advisors Inc. raised its holdings in shares of Flexion Therapeutics by 58.7% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock worth $20,588,000 after acquiring an additional 376,745 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Flexion Therapeutics by 69.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 41,644 shares of the specialty pharmaceutical company’s stock valued at $842,000 after acquiring an additional 17,066 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Flexion Therapeutics by 13.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 63,520 shares of the specialty pharmaceutical company’s stock valued at $1,284,000 after acquiring an additional 7,667 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Flexion Therapeutics by 3.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,802 shares of the specialty pharmaceutical company’s stock valued at $441,000 after acquiring an additional 811 shares during the last quarter. Institutional investors and hedge funds own 83.26% of the company’s stock.
Flexion Therapeutics Company Profile
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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