Analysts Set Flexion Therapeutics, Inc. (FLXN) PT at $88.50

Flexion Therapeutics, Inc. (NASDAQ:FLXN) has earned an average recommendation of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $88.50.

Several brokerages recently weighed in on FLXN. Wells Fargo & Company set a $39.00 target price on Flexion Therapeutics and gave the company a “buy” rating in a research note on Monday. Northland Securities began coverage on Flexion Therapeutics in a research report on Thursday, August 24th. They issued an “outperform” rating and a $40.00 price objective for the company. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 target price on shares of Flexion Therapeutics in a report on Friday, July 7th. Zacks Investment Research cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Finally, Needham & Company LLC raised their price target on Flexion Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Monday, October 9th.

Flexion Therapeutics (FLXN) traded up $1.16 during mid-day trading on Friday, hitting $23.26. 798,657 shares of the company were exchanged, compared to its average volume of 3,193,008.

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 the Zacks’ consensus estimate of ($0.80) by ($0.11). analysts forecast that Flexion Therapeutics will post -3.71 EPS for the current fiscal year.

In other Flexion Therapeutics news, insider Yamo Deniz purchased 1,375 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were acquired at an average price of $25.40 per share, with a total value of $34,925.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at $127,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 5,375 shares of company stock worth $131,575. 15.98% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in Flexion Therapeutics by 27.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock valued at $54,921,000 after buying an additional 591,981 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Flexion Therapeutics by 32.4% during the second quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock worth $363,000 after acquiring an additional 4,395 shares in the last quarter. Teachers Advisors LLC boosted its stake in Flexion Therapeutics by 3.1% during the first quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock worth $1,205,000 after acquiring an additional 1,328 shares in the last quarter. Scholtz & Company LLC bought a new stake in Flexion Therapeutics during the second quarter worth about $1,131,000. Finally, Swiss National Bank boosted its stake in Flexion Therapeutics by 13.2% during the first quarter. Swiss National Bank now owns 35,911 shares of the specialty pharmaceutical company’s stock worth $966,000 after acquiring an additional 4,200 shares in the last quarter. Institutional investors own 72.31% of the company’s stock.

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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.

Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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