Flexion Therapeutics, Inc. (FLXN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in a research report sent to investors on Sunday morning. The brokerage currently has a $36.00 price target on the specialty pharmaceutical company’s stock.

A number of other analysts have also weighed in on FLXN. Royal Bank Of Canada reissued an outperform rating and issued a $44.00 price target on shares of Flexion Therapeutics in a report on Thursday, August 10th. BMO Capital Markets reissued a buy rating on shares of Flexion Therapeutics in a report on Friday, August 11th. Zacks Investment Research raised shares of Flexion Therapeutics from a sell rating to a hold rating in a report on Wednesday, July 5th. ValuEngine raised shares of Flexion Therapeutics from a sell rating to a hold rating in a report on Friday, September 1st. Finally, Northland Securities initiated coverage on shares of Flexion Therapeutics in a report on Thursday, August 24th. They set an outperform rating and a $40.00 target price for the company. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $31.50.

Flexion Therapeutics (FLXN) opened at 24.12 on Friday. The stock’s 50 day moving average price is $23.25 and its 200 day moving average price is $22.01. Flexion Therapeutics has a 12-month low of $15.88 and a 12-month high of $29.41. The company’s market capitalization is $769.55 million.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, equities research analysts anticipate that Flexion Therapeutics will post ($3.70) earnings per share for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. lifted its stake in Flexion Therapeutics by 0.6% in the 2nd quarter. Macquarie Group Ltd. now owns 55,917 shares of the specialty pharmaceutical company’s stock valued at $1,131,000 after purchasing an additional 338 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Flexion Therapeutics by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock valued at $2,047,000 after acquiring an additional 513 shares during the period. The Manufacturers Life Insurance Company increased its position in Flexion Therapeutics by 3.9% in 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 period. ProShare Advisors LLC increased its position in Flexion Therapeutics by 5.5% in the 2nd quarter. ProShare Advisors LLC now owns 18,750 shares of the specialty pharmaceutical company’s stock valued at $379,000 after acquiring an additional 982 shares during the period. Finally, IFP Advisors Inc increased its position in Flexion Therapeutics by 24.5% in the 2nd quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock valued at $103,000 after acquiring an additional 1,000 shares during the period. 82.75% of the stock is owned by hedge funds and other institutional investors.

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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