Insider Buying: Flexion Therapeutics Inc. (FLXN) Insider Buys 1,666 Shares of Stock
Flexion Therapeutics Inc. (NASDAQ:FLXN) insider Michael D. Clayman bought 1,666 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was purchased at an average cost of $17.95 per share, for a total transaction of $29,904.70. Following the acquisition, the insider now owns 29,054 shares in the company, valued at approximately $521,519.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Flexion Therapeutics Inc. (NASDAQ:FLXN) traded up 1.89% during mid-day trading on Wednesday, hitting $18.35. 90,289 shares of the company were exchanged. Flexion Therapeutics Inc. has a 12-month low of $7.56 and a 12-month high of $23.57. The company’s market capitalization is $505.12 million. The firm has a 50 day moving average of $19.37 and a 200 day moving average of $16.56.
Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results on Monday, November 7th. The specialty pharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by $0.02. Equities research analysts forecast that Flexion Therapeutics Inc. will post ($2.76) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Bamco Inc. NY boosted its position in Flexion Therapeutics by 40.7% in the third quarter. Bamco Inc. NY now owns 38,000 shares of the specialty pharmaceutical company’s stock worth $743,000 after buying an additional 11,000 shares in the last quarter. Highbridge Capital Management LLC boosted its position in Flexion Therapeutics by 122.7% in the third quarter. Highbridge Capital Management LLC now owns 79,223 shares of the specialty pharmaceutical company’s stock worth $1,548,000 after buying an additional 43,646 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Flexion Therapeutics during the third quarter worth about $302,000. SECOR Capital Advisors LP acquired a new position in Flexion Therapeutics during the third quarter worth about $214,000. Finally, ProShare Advisors LLC boosted its position in Flexion Therapeutics by 7.3% in the third quarter. ProShare Advisors LLC now owns 19,650 shares of the specialty pharmaceutical company’s stock worth $384,000 after buying an additional 1,330 shares in the last quarter. Hedge funds and other institutional investors own 68.99% of the company’s stock.
FLXN has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $40.00 price objective on shares of Flexion Therapeutics in a report on Wednesday, November 2nd. BCS decreased their price objective on shares of Flexion Therapeutics from $0.65 to $0.02 in a report on Tuesday, November 8th. Zacks Investment Research lowered shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, Lake Street Capital reissued a “buy” rating and set a $38.00 price objective on shares of Flexion Therapeutics in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.28.
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Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc is a specialty pharmaceutical company. The Company is focused on the development and commercialization of therapies for the treatment of patients with musculoskeletal conditions, beginning with osteoarthritis (OA), a type of degenerative arthritis and post-operative pain. The Company’s portfolio of product candidates addresses the OA pain treatment spectrum, from moderate to severe pain.
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