Flexion Therapeutics Inc (FLXN) Receives Average Recommendation of “Buy” from Brokerages
Flexion Therapeutics Inc (NASDAQ:FLXN) has earned an average recommendation of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $99.11.
Several analysts recently issued reports on FLXN shares. Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Flexion Therapeutics in a research report on Friday, November 10th. Wells Fargo & Co set a $39.00 price target on shares of Flexion Therapeutics and gave the company a “buy” rating in a report on Monday, October 30th. Royal Bank of Canada set a $44.00 price target on shares of Flexion Therapeutics and gave the company a “buy” rating in a report on Sunday, October 29th. Needham & Company LLC lifted their price target on shares of Flexion Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a report on Monday, October 9th. Finally, Laidlaw reaffirmed a “buy” rating and set a $38.00 price target (up previously from $35.00) on shares of Flexion Therapeutics in a report on Tuesday, October 10th.
In related news, insider Michael D. Clayman bought 5,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average price of $23.60 per share, with a total value of $118,000.00. Following the completion of the acquisition, the insider now owns 35,395 shares of the company’s stock, valued at $835,322. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Neil Bodick bought 2,700 shares of the stock in a transaction dated Tuesday, November 21st. The stock was bought at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the acquisition, the insider now directly owns 64,605 shares of the company’s stock, valued at approximately $1,582,176.45. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.
Shares of Flexion Therapeutics (FLXN) traded up $2.23 during midday trading on Tuesday, reaching $23.80. 1,004,566 shares of the company traded hands, compared to its average volume of 730,231. The company has a debt-to-equity ratio of 0.87, a current ratio of 12.93 and a quick ratio of 12.93. The company has a market capitalization of $893.47, a price-to-earnings ratio of -6.76 and a beta of 0.91. Flexion Therapeutics has a 12 month low of $16.51 and a 12 month high of $32.25.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Monday, November 6th. The specialty pharmaceutical company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.98) by ($0.09). analysts predict that Flexion Therapeutics will post -3.84 EPS for the current fiscal year.
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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.
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