Flexion Therapeutics, Inc. (FLXN) Trading -5.4% Higher on Analyst Upgrade

Flexion Therapeutics, Inc. (NASDAQ:FLXN) shares were up 5.4% on Monday after Needham & raised their price target on the stock from $36.00 to $42.00. Needham & currently has a buy rating on the stock. Flexion Therapeutics traded as high as $32.25 and last traded at $28.31. Approximately 6,166,520 shares traded hands during mid-day trading, an increase of 816% from the average daily volume of 672,838 shares. The stock had previously closed at $29.93.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company set a $39.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald set a $40.00 price objective on Flexion Therapeutics and gave the stock 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 upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Janney Montgomery Scott restated a “buy” rating and set a $35.00 price objective (up previously from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. Two 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 has an average rating of “Buy” and a consensus price target of $34.22.

In other news, insider Yamo Deniz acquired 1,375 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was purchased at an average cost of $25.40 per share, with a total value of $34,925.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares in the company, valued at $127,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders purchased 5,375 shares of company stock valued at $131,575. 15.98% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. grew its holdings in shares of Flexion Therapeutics by 0.6% during the second 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. grew its holdings in shares of Flexion Therapeutics by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 101,214 shares of the specialty pharmaceutical company’s stock valued at $2,047,000 after purchasing an additional 513 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Flexion Therapeutics by 3.9% during the second quarter. The Manufacturers Life Insurance Company now owns 21,802 shares of the specialty pharmaceutical company’s stock valued at $441,000 after purchasing an additional 811 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Flexion Therapeutics by 5.5% during the second quarter. ProShare Advisors LLC now owns 18,750 shares of the specialty pharmaceutical company’s stock valued at $379,000 after purchasing an additional 982 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of Flexion Therapeutics by 24.5% during the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock valued at $103,000 after purchasing an additional 1,000 shares during the last quarter. 83.26% of the stock is owned by hedge funds and other institutional investors.

The company’s 50-day moving average is $24.68 and its 200-day moving average is $22.57. The company’s market capitalization is $898.76 million.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, equities research analysts predict that Flexion Therapeutics, Inc. will post ($3.75) EPS for the current fiscal year.

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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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