Michael D. Clayman Purchases 1,667 Shares of Flexion Therapeutics Inc. (FLXN) Stock
Flexion Therapeutics Inc. (NASDAQ:FLXN) insider Michael D. Clayman purchased 1,667 shares of the firm’s stock in a transaction dated Wednesday, November 23rd. The shares were bought at an average cost of $18.41 per share, with a total value of $30,689.47. Following the transaction, the insider now directly owns 30,721 shares of the company’s stock, valued at approximately $565,573.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Flexion Therapeutics Inc. (NASDAQ:FLXN) opened at 18.52 on Friday. The company’s market capitalization is $509.80 million. Flexion Therapeutics Inc. has a 1-year low of $7.56 and a 1-year high of $23.57. The firm has a 50-day moving average price of $19.34 and a 200-day moving average price of $16.58.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings results on Monday, November 7th. The specialty pharmaceutical company reported ($0.65) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.02. Equities analysts anticipate that Flexion Therapeutics Inc. will post ($2.76) earnings per share for the current year.
FLXN has been the topic of several research analyst reports. Lake Street Capital restated a “buy” rating and set a $38.00 price objective on shares of Flexion Therapeutics in a research note on Tuesday, September 6th. Zacks Investment Research cut Flexion Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Cantor Fitzgerald restated a “buy” rating and set a $40.00 price objective on shares of Flexion Therapeutics in a research note on Wednesday, November 2nd. Finally, BCS reduced their price objective on Flexion Therapeutics from $0.65 to $0.02 in a research note on Tuesday, November 8th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Flexion Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $28.28.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC increased its position in shares of Flexion Therapeutics by 27.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 4,307,870 shares of the specialty pharmaceutical company’s stock valued at $64,467,000 after buying an additional 927,625 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Flexion Therapeutics by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 1,631,323 shares of the specialty pharmaceutical company’s stock valued at $31,876,000 after buying an additional 37,297 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Flexion Therapeutics by 33.5% in the third quarter. BlackRock Fund Advisors now owns 1,003,825 shares of the specialty pharmaceutical company’s stock valued at $19,615,000 after buying an additional 251,804 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Flexion Therapeutics during the third quarter valued at approximately $14,126,000. Finally, TPG Group Holdings SBS Advisors Inc. acquired a new position in shares of Flexion Therapeutics during the second quarter valued at approximately $10,689,000. 68.99% of the stock is currently owned by institutional investors.
About Flexion Therapeutics
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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