Flexion Therapeutics, Inc. (NASDAQ:FLXN) posted its earnings results on Tuesday. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by $0.11, Bloomberg Earnings reports.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down 2.16% during midday trading on Wednesday, hitting $21.77. 457,264 shares of the company were exchanged. Flexion Therapeutics has a one year low of $15.44 and a one year high of $29.41. The firm’s market capitalization is $691.35 million. The firm’s 50 day moving average price is $21.59 and its 200 day moving average price is $21.10.
Several equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $34.00 target price on shares of Flexion Therapeutics in a report on Wednesday, April 26th. Zacks Investment Research lowered shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Janney Montgomery Scott reiterated a “buy” rating and issued a $35.00 target price (up from $30.00) on shares of Flexion Therapeutics in a report on Wednesday, July 12th. Royal Bank Of Canada reiterated a “buy” rating and issued a $44.00 target price on shares of Flexion Therapeutics in a report on Friday, July 7th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $31.10.
In other Flexion Therapeutics news, insider Michael D. Clayman acquired 5,000 shares of the stock in a transaction on Monday, June 5th. The shares were purchased at an average price of $17.23 per share, for a total transaction of $86,150.00. Following the completion of the acquisition, the insider now owns 20,146 shares in the company, valued at approximately $347,115.58. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark Stejbach acquired 1,580 shares of the stock in a transaction on Friday, June 16th. The shares were acquired at an average price of $17.02 per share, for a total transaction of $26,891.60. The disclosure for this purchase can be found here. 15.98% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its position in Flexion Therapeutics by 79.0% in the first quarter. Parametric Portfolio Associates LLC now owns 27,600 shares of the specialty pharmaceutical company’s stock valued at $743,000 after buying an additional 12,181 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in Flexion Therapeutics during the first quarter valued at $1,246,000. Swiss National Bank increased its position in Flexion Therapeutics by 13.2% in the first quarter. Swiss National Bank now owns 35,911 shares of the specialty pharmaceutical company’s stock valued at $966,000 after buying an additional 4,200 shares during the last quarter. Pictet Asset Management Ltd. acquired a new position in Flexion Therapeutics during the first quarter valued at $7,323,000. Finally, Bank of New York Mellon Corp increased its position in Flexion Therapeutics by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 2,124,208 shares of the specialty pharmaceutical company’s stock valued at $57,163,000 after buying an additional 175,879 shares during the last quarter. Hedge funds and other institutional investors own 75.43% of the company’s stock.
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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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