Oppenheimer began coverage on shares of Flexion Therapeutics (NASDAQ:FLXN) in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $19.00 price objective on the specialty pharmaceutical company’s stock.
FLXN has been the topic of a number of other research reports. Benchmark reduced their target price on Flexion Therapeutics from $25.00 to $17.00 and set a buy rating on the stock in a research note on Thursday, April 2nd. Zacks Investment Research upgraded shares of Flexion Therapeutics from a hold rating to a buy rating and set a $14.00 price target for the company in a research report on Wednesday, July 8th. Raymond James cut their price target on shares of Flexion Therapeutics from $23.00 to $20.00 and set a strong-buy rating for the company in a research report on Monday, April 27th. ValuEngine lowered shares of Flexion Therapeutics from a buy rating to a hold rating in a research report on Wednesday. Finally, Northland Securities began coverage on shares of Flexion Therapeutics in a research report on Tuesday, June 2nd. They set a buy rating and a $35.00 price target for the company. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $22.08.
FLXN traded down $0.28 during trading on Thursday, reaching $13.57. The stock had a trading volume of 785,302 shares, compared to its average volume of 519,513. The stock has a market cap of $523.30 million, a PE ratio of -3.58 and a beta of 2.10. Flexion Therapeutics has a one year low of $5.01 and a one year high of $22.98. The business has a 50-day moving average of $12.64 and a 200-day moving average of $12.41.
In other news, CEO Michael D. Clayman bought 10,256 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $9.75 per share, for a total transaction of $99,996.00. Following the completion of the acquisition, the chief executive officer now owns 64,957 shares in the company, valued at approximately $633,330.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 17.03% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Flexion Therapeutics in the first quarter worth about $81,000. Paloma Partners Management Co purchased a new stake in Flexion Therapeutics in the first quarter worth about $92,000. AQR Capital Management LLC purchased a new stake in Flexion Therapeutics in the first quarter worth about $101,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Flexion Therapeutics in the first quarter worth about $113,000. Finally, Victory Capital Management Inc. lifted its holdings in Flexion Therapeutics by 34.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,061 shares of the specialty pharmaceutical company’s stock worth $125,000 after buying an additional 1,546 shares during the period. Institutional investors and hedge funds own 82.19% of the company’s stock.
Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee in the United States.
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