Flexion Therapeutics Inc (NASDAQ:FLXN) saw a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 6,970,000 shares, a drop of 11.9% from the November 14th total of 7,910,000 shares. Based on an average daily volume of 652,900 shares, the days-to-cover ratio is currently 10.7 days. Approximately 21.9% of the shares of the company are sold short.
Several institutional investors have recently bought and sold shares of FLXN. Clearline Capital LP boosted its stake in shares of Flexion Therapeutics by 63.6% in the second quarter. Clearline Capital LP now owns 910,542 shares of the specialty pharmaceutical company’s stock valued at $11,200,000 after buying an additional 353,832 shares in the last quarter. Novo Holdings A S acquired a new position in Flexion Therapeutics during the second quarter worth $2,552,000. Nuveen Asset Management LLC acquired a new position in Flexion Therapeutics during the second quarter worth $2,281,000. Vanguard Group Inc. raised its holdings in Flexion Therapeutics by 10.5% during the second quarter. Vanguard Group Inc. now owns 1,879,528 shares of the specialty pharmaceutical company’s stock worth $23,118,000 after purchasing an additional 178,040 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Flexion Therapeutics by 1,176.8% during the third quarter. SG Americas Securities LLC now owns 151,886 shares of the specialty pharmaceutical company’s stock worth $2,082,000 after purchasing an additional 139,990 shares during the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.
Several research analysts have weighed in on the company. Craig Hallum assumed coverage on Flexion Therapeutics in a research note on Thursday, December 5th. They issued a “buy” rating and a $24.00 target price on the stock. Northland Securities set a $20.00 target price on Flexion Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 10th. Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, December 10th. ValuEngine downgraded Flexion Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, BTIG Research assumed coverage on Flexion Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating and a $27.00 target price on the stock. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.00.
Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings results on Thursday, November 7th. The specialty pharmaceutical company reported ($1.00) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.01) by $0.01. Flexion Therapeutics had a negative return on equity of 271.22% and a negative net margin of 266.51%. The firm had revenue of $21.79 million for the quarter, compared to the consensus estimate of $18.85 million. Research analysts predict that Flexion Therapeutics will post -4.07 EPS for the current fiscal year.
Flexion Therapeutics Company Profile
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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