17,500 Shares in Flexion Therapeutics, Inc. (FLXN) Acquired by Harvest Management LLC
Harvest Management LLC acquired a new stake in shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,500 shares of the specialty pharmaceutical company’s stock, valued at approximately $354,000. Harvest Management LLC owned approximately 0.06% of Flexion Therapeutics at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Fiduciary Trust Co. purchased a new position in Flexion Therapeutics during the second quarter valued at approximately $101,000. IFP Advisors Inc lifted its position in Flexion Therapeutics by 24.5% during 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 during the last quarter. Asset Management One Co. Ltd. bought a new stake in Flexion Therapeutics during the first quarter valued at approximately $319,000. BB&T Securities LLC bought a new stake in Flexion Therapeutics during the second quarter valued at approximately $289,000. Finally, American International Group Inc. lifted its position in Flexion Therapeutics by 52.3% during the first quarter. American International Group Inc. now owns 16,212 shares of the specialty pharmaceutical company’s stock valued at $436,000 after purchasing an additional 5,569 shares during the last quarter. 82.75% of the stock is owned by institutional investors.
In related news, insider Yamo Deniz acquired 1,375 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was acquired at an average cost of $25.40 per share, with a total value of $34,925.00. Following the acquisition, the insider now directly owns 5,000 shares in the company, valued at approximately $127,000. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have acquired 5,375 shares of company stock valued at $131,575. Insiders own 15.98% of the company’s stock.
Several equities research analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Flexion Therapeutics in a research report on Sunday, September 17th. Royal Bank Of Canada reiterated an “outperform” rating and set a $44.00 target price on shares of Flexion Therapeutics in a research report on Thursday, August 10th. BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.50.
Shares of Flexion Therapeutics, Inc. (FLXN) traded down 3.092% during midday trading on Friday, hitting $25.855. 181,132 shares of the stock were exchanged. The firm’s 50-day moving average is $23.38 and its 200 day moving average is $22.10. Flexion Therapeutics, Inc. has a 52-week low of $15.93 and a 52-week high of $29.41. The firm’s market cap is $824.90 million.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.11). On average, analysts forecast that Flexion Therapeutics, Inc. will post ($3.70) earnings per share for the current year.
Flexion Therapeutics 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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