Gagnon Securities LLC bought a new position in shares of Flexion Therapeutics Inc (NASDAQ:FLXN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 144,331 shares of the specialty pharmaceutical company’s stock, valued at approximately $3,490,000. Flexion Therapeutics makes up approximately 1.3% of Gagnon Securities LLC’s investment portfolio, making the stock its 27th largest holding. Gagnon Securities LLC owned about 0.38% of Flexion Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FLXN. Bank of New York Mellon Corp raised its holdings in Flexion Therapeutics by 27.9% in the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock valued at $54,921,000 after acquiring an additional 591,981 shares in the last quarter. State Street Corp raised its holdings in Flexion Therapeutics by 66.3% in the second quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock valued at $27,888,000 after acquiring an additional 549,948 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Flexion Therapeutics by 58.7% in the second quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock valued at $20,588,000 after acquiring an additional 376,745 shares in the last quarter. Nexthera Capital LP acquired a new stake in Flexion Therapeutics in the second quarter valued at $4,661,000. Finally, Pictet Asset Management Ltd. raised its holdings in Flexion Therapeutics by 73.7% in the second quarter. Pictet Asset Management Ltd. now owns 472,796 shares of the specialty pharmaceutical company’s stock valued at $8,080,000 after acquiring an additional 200,657 shares in the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

FLXN has been the topic of several recent analyst reports. Janney Montgomery Scott upped their price target on shares of Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a report on Tuesday, October 10th. Wells Fargo & Company set a $39.00 price target on shares of Flexion Therapeutics and gave the company a “buy” rating in a report on Friday, October 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target on shares of Flexion Therapeutics in a report on Sunday, September 17th. Zacks Investment Research cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Royal Bank Of Canada set a $44.00 price target on shares of Flexion Therapeutics and gave the company a “buy” rating in a report on Sunday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $98.33.

In other Flexion Therapeutics news, insider Michael D. Clayman bought 5,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $23.60 per share, with a total value of $118,000.00. Following the completion of the acquisition, the insider now owns 35,395 shares of the company’s stock, valued at $835,322. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Neil Bodick bought 2,700 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were acquired at an average cost of $24.49 per share, for a total transaction of $66,123.00. Following the completion of the acquisition, the insider now directly owns 64,605 shares of the company’s stock, valued at approximately $1,582,176.45. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by corporate insiders.

Shares of Flexion Therapeutics Inc (FLXN) opened at $25.47 on Friday. Flexion Therapeutics Inc has a twelve month low of $16.51 and a twelve month high of $32.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 12.93 and a current ratio of 12.93.

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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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Institutional Ownership by Quarter for Flexion Therapeutics (NASDAQ:FLXN)

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