Flexion Therapeutics, Inc. (FLXN) Sees Unusually-High Trading Volume
Flexion Therapeutics, Inc. (NASDAQ:FLXN) shares saw unusually-strong trading volume on Friday . Approximately 8,176,468 shares changed hands during mid-day trading, an increase of 1,365% from the previous session’s volume of 558,217 shares.The stock last traded at $29.93 and had previously closed at $27.12.
A number of equities analysts recently commented on FLXN shares. Cantor Fitzgerald set a $40.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a research note on Monday, June 12th. ValuEngine raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research note on Tuesday, June 27th. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Flexion Therapeutics in a research note on Friday, July 7th. Two investment analysts have 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 has a consensus rating of “Buy” and an average price target of $33.56.
The company has a 50-day moving average price of $24.68 and a 200-day moving average price of $22.57. The company’s market cap is $954.92 million.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.11). On average, equities research analysts predict that Flexion Therapeutics, Inc. will post ($3.74) EPS for the current year.
In other Flexion Therapeutics news, insider Yamo Deniz acquired 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of $24.15 per share, for a total transaction of $72,450.00. Following the acquisition, the insider now owns 5,000 shares in the company, valued at approximately $120,750. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 5,375 shares of company stock valued at $131,575. Company insiders own 15.98% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fiduciary Trust Co. purchased a new stake in Flexion Therapeutics in the 2nd quarter worth approximately $101,000. IFP Advisors Inc lifted its holdings in Flexion Therapeutics by 24.5% in the 2nd 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 period. Advisor Group Inc. lifted its holdings in Flexion Therapeutics by 205.9% in the 2nd quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock worth $105,000 after buying an additional 3,500 shares during the period. Asset Management One Co. Ltd. purchased a new stake in Flexion Therapeutics in the 1st quarter worth approximately $319,000. Finally, Voya Investment Management LLC lifted its holdings in Flexion Therapeutics by 25.8% in the 2nd quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock worth $261,000 after buying an additional 2,651 shares during the period. Institutional investors and hedge funds own 83.26% of the company’s stock.
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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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