Flexion Therapeutics, Inc. (FLXN) Shares Bought by Alps Advisors Inc.
Alps Advisors Inc. raised its position in Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,666 shares of the specialty pharmaceutical company’s stock after buying an additional 1,888 shares during the period. Alps Advisors Inc. owned 0.09% of Flexion Therapeutics worth $580,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Flexion Therapeutics by 24.5% in the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after buying an additional 1,000 shares during the last quarter. Monarch Partners Asset Management LLC acquired a new stake in shares of Flexion Therapeutics during the first quarter worth approximately $279,000. Asset Management One Co. Ltd. acquired a new stake in shares of Flexion Therapeutics during the first quarter worth approximately $319,000. Janney Montgomery Scott LLC raised its stake in shares of Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock worth $365,000 after buying an additional 3,200 shares during the last quarter. Finally, American International Group Inc. raised its stake in shares of Flexion Therapeutics by 52.3% in the first quarter. American International Group Inc. now owns 16,212 shares of the specialty pharmaceutical company’s stock worth $436,000 after buying an additional 5,569 shares during the last quarter. 78.01% of the stock is owned by institutional investors.
Flexion Therapeutics, Inc. (FLXN) opened at 22.44 on Tuesday. The firm’s 50-day moving average price is $22.79 and its 200 day moving average price is $21.42. The stock’s market cap is $715.95 million. Flexion Therapeutics, Inc. has a 12 month low of $15.44 and a 12 month high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last issued its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by $0.11. On average, analysts anticipate that Flexion Therapeutics, Inc. will post ($3.68) earnings per share for the current year.
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A number of analysts recently commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Flexion Therapeutics in a research note on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target (up previously from $34.00) on shares of Flexion Therapeutics in a research note on Thursday, August 10th. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research note on Friday, August 11th. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $35.00 price target (up previously from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.30.
In related news, insider Michael D. Clayman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was purchased at an average cost of $17.23 per share, for a total transaction of $86,150.00. Following the purchase, the insider now directly owns 20,146 shares of the company’s stock, valued at approximately $347,115.58. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Stejbach acquired 1,580 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average price of $17.02 per share, with a total value of $26,891.60. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.
Flexion Therapeutics Company 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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