Janney Montgomery Scott Boosts Flexion Therapeutics, Inc. (FLXN) Price Target to $570.00

Flexion Therapeutics, Inc. (NASDAQ:FLXN) had its price target increased by Janney Montgomery Scott to $570.00 in a report issued on Tuesday, The Fly reports. Janney Montgomery Scott currently has a fair value rating on the specialty pharmaceutical company’s stock.

A number of other research firms have also weighed in on FLXN. Wells Fargo & Company set a $39.00 price objective on shares of Flexion Therapeutics and gave the stock a buy rating in a research note on Friday, October 6th. BMO Capital Markets reaffirmed an outperform rating and issued a $37.00 price objective (up from $35.00) on shares of Flexion Therapeutics in a research note on Monday. Needham & Company LLC upped their price objective on shares of Flexion Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a research note on Monday. Northland Securities reaffirmed a buy rating and issued a $40.00 price objective on shares of Flexion Therapeutics in a research note on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Flexion Therapeutics from a sell rating to a hold rating in a research note on Monday, August 28th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $88.50.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.80) by ($0.11).

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In other news, insider Yamo Deniz bought 3,000 shares of Flexion Therapeutics stock in a transaction on Friday, September 1st. The stock was acquired at an average cost of $24.15 per share, for a total transaction of $72,450.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at approximately $120,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders acquired 5,375 shares of company stock valued at $131,575 over the last quarter. 15.98% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new position in Flexion Therapeutics in the second quarter worth about $101,000. IFP Advisors Inc raised its holdings in Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. raised its holdings in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock worth $105,000 after purchasing an additional 3,500 shares in the last quarter. Voya Investment Management LLC raised its holdings in Flexion Therapeutics by 25.8% in the second quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock worth $261,000 after purchasing an additional 2,651 shares in the last quarter. Finally, BB&T Securities LLC bought a new position in Flexion Therapeutics in the second quarter worth about $289,000. 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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