Needham & Company LLC Boosts Flexion Therapeutics, Inc. (FLXN) Price Target to $42.00
Flexion Therapeutics, Inc. (NASDAQ:FLXN) had its price objective boosted by Needham & Company LLC from $36.00 to $42.00 in a research note released on Monday, MarketBeat Ratings reports. Needham & Company LLC currently has a buy rating on the specialty pharmaceutical company’s stock.
A number of other research analysts have also recently commented on the company. Wells Fargo & Company set a $39.00 target price on Flexion Therapeutics and gave the company a buy rating in a research note on Friday, October 6th. Cantor Fitzgerald set a $40.00 target price on Flexion Therapeutics and gave the company a buy rating in a research note on Monday, June 12th. Zacks Investment Research cut Flexion Therapeutics from a hold rating to a sell rating in a research note on Thursday, July 13th. ValuEngine raised Flexion Therapeutics from a sell rating to a hold rating in a research note on Wednesday, June 21st. Finally, Janney Montgomery Scott reaffirmed a buy rating and set a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Flexion Therapeutics has an average rating of Buy and a consensus price target of $88.50.
Shares of Flexion Therapeutics (FLXN) opened at 26.21 on Monday. The firm has a 50-day moving average price of $25.08 and a 200 day moving average price of $22.65. Flexion Therapeutics has a 12-month low of $15.93 and a 12-month high of $32.25. The stock’s market cap is $836.23 million.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11). Equities research analysts expect that Flexion Therapeutics will post ($3.78) earnings per share for the current year.
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In other news, insider Yamo Deniz acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average price of $24.15 per share, with a total value of $72,450.00. Following the completion of the purchase, the insider now directly owns 5,000 shares in the company, valued at $120,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders purchased 5,375 shares of company stock worth $131,575. 15.98% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in FLXN. Bank of New York Mellon Corp grew its stake 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 purchasing an additional 591,981 shares in the last quarter. State Street Corp grew its stake 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 purchasing an additional 549,948 shares in the last quarter. Wasatch Advisors Inc. grew its stake 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 purchasing an additional 376,745 shares in the last quarter. Nexthera Capital LP bought a new position in Flexion Therapeutics in the second quarter worth approximately $4,661,000. Finally, Pictet Asset Management Ltd. grew its stake in Flexion Therapeutics by 73.7% in the second quarter. Pictet Asset Management Ltd. now owns 472,796 shares of the specialty pharmaceutical company’s stock worth $8,080,000 after purchasing an additional 200,657 shares in the last quarter. 83.26% of the stock is currently owned by institutional investors.
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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