Capital World Investors boosted its holdings in Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,538,000 shares of the specialty pharmaceutical company’s stock after purchasing an additional 49,000 shares during the period. Capital World Investors owned about 7.95% of Flexion Therapeutics worth $51,318,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new position in Flexion Therapeutics in the second quarter valued at $101,000. IFP Advisors Inc grew its position in Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock valued at $103,000 after purchasing an additional 1,000 shares in the last quarter. Advisor Group Inc. grew its position in Flexion Therapeutics by 205.9% in the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after purchasing an additional 3,500 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in Flexion Therapeutics in the first quarter valued at $319,000. Finally, Voya Investment Management LLC grew its position in Flexion Therapeutics by 25.8% in the second quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock valued at $261,000 after purchasing an additional 2,651 shares in the last quarter. 83.26% of the stock is owned by institutional investors and hedge funds.
Flexion Therapeutics, Inc. (FLXN) opened at 29.93 on Friday. The company’s market cap is $954.92 million. The stock has a 50 day moving average of $24.68 and a 200-day moving average of $22.57. Flexion Therapeutics, Inc. has a 12 month low of $15.93 and a 12 month high of $32.25.
Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11). Equities research analysts expect that Flexion Therapeutics, Inc. will post ($3.74) EPS for the current year.
In other news, insider Yamo Deniz bought 3,000 shares of Flexion Therapeutics stock in a transaction dated Friday, September 1st. The stock was purchased at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $120,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 5,375 shares of company stock valued at $131,575. Company insiders own 15.98% of the company’s stock.
A number of research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th. Cantor Fitzgerald set a $40.00 price objective on shares of Flexion Therapeutics and gave the company a “buy” rating in a research report on Monday, June 12th. Finally, Janney Montgomery Scott reissued a “buy” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a hold rating, seven have issued 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 target price of $33.56.
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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