Royal Bank Of Canada set a $44.00 target price on Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a research report sent to investors on Monday morning. The firm currently has a buy rating on the specialty pharmaceutical company’s stock.
FLXN has been the subject of several other reports. Zacks Investment Research upgraded shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Monday, August 28th. ValuEngine upgraded shares of Flexion Therapeutics from a sell rating to a hold rating in a research report on Friday, September 1st. BMO Capital Markets reiterated a buy rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Needham & Company LLC reiterated a buy rating and issued a $36.00 target price (up from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th. Finally, Janney Montgomery Scott reiterated a buy rating and issued a $35.00 target price (up from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $31.50.
Shares of Flexion Therapeutics (FLXN) opened at 24.00 on Monday. Flexion Therapeutics has a 1-year low of $15.44 and a 1-year high of $29.41. The firm’s 50-day moving average price is $23.29 and its 200 day moving average price is $21.92. The company’s market capitalization is $765.72 million.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by $0.11. Equities analysts predict that Flexion Therapeutics will post ($3.70) EPS for the current fiscal year.
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In other Flexion Therapeutics news, Director Mark Stejbach purchased 1,580 shares of the stock in a transaction on Friday, June 16th. The stock was acquired at an average cost of $17.02 per share, with a total value of $26,891.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.98% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FLXN. Teachers Advisors LLC lifted its stake in Flexion Therapeutics by 21.2% in the fourth quarter. Teachers Advisors LLC now owns 43,468 shares of the specialty pharmaceutical company’s stock worth $827,000 after purchasing an additional 7,610 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock worth $365,000 after purchasing an additional 3,200 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Flexion Therapeutics by 25.1% in the first quarter. Wells Fargo & Company MN now owns 124,717 shares of the specialty pharmaceutical company’s stock worth $3,356,000 after purchasing an additional 25,047 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Flexion Therapeutics in the first quarter worth $2,018,000. Finally, Bank of New York Mellon Corp lifted its stake in Flexion Therapeutics by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 2,124,208 shares of the specialty pharmaceutical company’s stock worth $57,163,000 after purchasing an additional 175,879 shares during the last quarter. 82.75% of the stock is owned by institutional investors and hedge funds.
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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