Flexion Therapeutics (FLXN) Trading Up 5.5%

Flexion Therapeutics Inc (NASDAQ:FLXN)’s share price was up 5.5% during mid-day trading on Thursday . The company traded as high as $19.21 and last traded at $19.06. Approximately 920,700 shares traded hands during trading, an increase of 53% from the average daily volume of 601,575 shares. The stock had previously closed at $18.07.

A number of equities analysts have recently issued reports on FLXN shares. BidaskClub cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, September 12th. Zacks Investment Research cut shares of Flexion Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. ValuEngine raised shares of Flexion Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 2nd. Finally, Benchmark started coverage on shares of Flexion Therapeutics in a research report on Thursday, June 28th. They set a “buy” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $91.50.

The company has a current ratio of 12.90, a quick ratio of 12.78 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $680.30 million, a price-to-earnings ratio of -4.61 and a beta of 0.71.

Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Tuesday, August 7th. The specialty pharmaceutical company reported ($1.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.22) by $0.06. The business had revenue of $3.80 million during the quarter, compared to analyst estimates of $3.96 million. equities research analysts forecast that Flexion Therapeutics Inc will post -4.75 earnings per share for the current year.

In related news, insider Neil Bodick sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $25.07, for a total value of $1,253,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David Arkowitz bought 4,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average price of $23.42 per share, for a total transaction of $93,680.00. Following the acquisition, the chief financial officer now directly owns 44,250 shares in the company, valued at $1,036,335. The disclosure for this purchase can be found here. Corporate insiders own 14.59% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Flexion Therapeutics by 8.3% in the 2nd quarter. BlackRock Inc. now owns 2,829,477 shares of the specialty pharmaceutical company’s stock worth $73,144,000 after acquiring an additional 217,510 shares during the last quarter. Rubric Capital Management LP raised its holdings in shares of Flexion Therapeutics by 108.6% in the 1st quarter. Rubric Capital Management LP now owns 2,023,704 shares of the specialty pharmaceutical company’s stock worth $45,351,000 after acquiring an additional 1,053,704 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Flexion Therapeutics in the 1st quarter worth about $15,511,000. Peregrine Capital Management LLC raised its holdings in shares of Flexion Therapeutics by 5.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 666,160 shares of the specialty pharmaceutical company’s stock worth $17,220,000 after acquiring an additional 33,890 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its stake in Flexion Therapeutics by 2.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 647,931 shares of the specialty pharmaceutical company’s stock valued at $16,749,000 after buying an additional 15,260 shares during the last quarter. Institutional investors own 99.09% of the company’s stock.

Flexion Therapeutics Company Profile (NASDAQ:FLXN)

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It lead product candidate includes Zilretta, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee.

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