Oppenheimer Initiates Coverage on Flexion Therapeutics (NASDAQ:FLXN)

Oppenheimer initiated coverage on shares of Flexion Therapeutics (NASDAQ:FLXN) in a research report report published on Thursday, BenzingaRatingsTable reports. The firm issued an outperform rating and a $19.00 price target on the specialty pharmaceutical company’s stock.

A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Flexion Therapeutics from a buy rating to a hold rating in a report on Friday, July 10th. HC Wainwright reiterated a buy rating and issued a $25.00 price target on shares of Flexion Therapeutics in a report on Wednesday, July 15th. Credit Suisse Group assumed coverage on shares of Flexion Therapeutics in a report on Wednesday. They issued an outperform rating and a $19.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Flexion Therapeutics from $20.00 to $18.00 and set an outperform rating on the stock in a report on Friday, May 8th. Finally, Guggenheim assumed coverage on shares of Flexion Therapeutics in a report on Tuesday, May 26th. They issued a buy rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $22.08.

Shares of FLXN traded down $0.28 during trading hours on Thursday, reaching $13.57. 785,302 shares of the stock traded hands, compared to its average volume of 519,513. Flexion Therapeutics has a 52-week low of $5.01 and a 52-week high of $22.98. The company’s 50-day moving average price is $12.64 and its two-hundred day moving average price is $12.41. The company has a market cap of $523.30 million, a P/E ratio of -3.58 and a beta of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results on Thursday, May 7th. The specialty pharmaceutical company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.05. The company had revenue of $20.13 million for the quarter, compared to analysts’ expectations of $18.45 million. Flexion Therapeutics had a negative net margin of 175.76% and a negative return on equity of 592.50%. Equities research analysts expect that Flexion Therapeutics will post -2.62 earnings per share for the current fiscal year.

In other news, CEO Michael D. Clayman purchased 10,256 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $9.75 per share, for a total transaction of $99,996.00. Following the acquisition, the chief executive officer now owns 64,957 shares of the company’s stock, valued at approximately $633,330.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 17.03% of the company’s stock.

A number of large investors have recently modified their holdings of FLXN. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Flexion Therapeutics during the 1st quarter valued at about $81,000. Paloma Partners Management Co bought a new position in Flexion Therapeutics during the 1st quarter valued at about $92,000. AQR Capital Management LLC bought a new position in Flexion Therapeutics during the 1st quarter valued at about $101,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in Flexion Therapeutics during the 1st quarter valued at about $113,000. Finally, Victory Capital Management Inc. grew its holdings in Flexion Therapeutics by 34.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,061 shares of the specialty pharmaceutical company’s stock valued at $125,000 after purchasing an additional 1,546 shares during the last quarter. Institutional investors own 82.19% of the company’s stock.

About Flexion Therapeutics

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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Analyst Recommendations for Flexion Therapeutics (NASDAQ:FLXN)

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