Capital World Investors grew its position in Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in FLXN. Bank of New York Mellon Corp increased its holdings in Flexion Therapeutics by 27.9% during the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock worth $54,921,000 after buying an additional 591,981 shares during the last quarter. Vanguard Group Inc. increased its holdings in Flexion Therapeutics by 5.9% during the second quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock worth $21,321,000 after buying an additional 59,143 shares during the last quarter. State Street Corp increased its holdings in Flexion Therapeutics by 111.8% during the first quarter. State Street Corp now owns 829,254 shares of the specialty pharmaceutical company’s stock worth $22,316,000 after buying an additional 437,648 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in Flexion Therapeutics by 16.3% during the first quarter. Driehaus Capital Management LLC now owns 523,060 shares of the specialty pharmaceutical company’s stock worth $14,076,000 after buying an additional 73,353 shares during the last quarter. Finally, Schroder Investment Management Group increased its holdings in Flexion Therapeutics by 29.3% during the second quarter. Schroder Investment Management Group now owns 509,427 shares of the specialty pharmaceutical company’s stock worth $10,474,000 after buying an additional 115,413 shares during the last quarter. Institutional investors own 83.26% of the company’s stock.
A number of research firms recently issued reports on FLXN. BMO Capital Markets restated a “buy” rating on shares of Flexion Therapeutics in a report on Friday, August 11th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price (up previously from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. Janney Montgomery Scott reiterated a “buy” rating and set a $35.00 target price (up previously from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Flexion Therapeutics has an average rating of “Buy” and a consensus target price of $88.50.
Shares of Flexion Therapeutics, Inc. (FLXN) opened at 25.01 on Tuesday. Flexion Therapeutics, Inc. has a 52 week low of $15.93 and a 52 week high of $32.25. The stock’s market capitalization is $797.94 million. The company has a 50-day moving average of $25.16 and a 200-day moving average of $22.58.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11). On average, analysts anticipate that Flexion Therapeutics, Inc. will post ($3.77) EPS for the current year.
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In other Flexion Therapeutics news, insider Yamo Deniz purchased 1,375 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were acquired at an average price of $25.40 per share, with a total value of $34,925.00. Following the purchase, the insider now directly owns 5,000 shares in the company, valued at approximately $127,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders bought 5,375 shares of company stock worth $131,575. Corporate insiders own 15.98% of the company’s stock.
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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