Kingdon Capital Management L.L.C. lessened its position in shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 16.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 953,869 shares of the specialty pharmaceutical company’s stock after selling 192,682 shares during the quarter. Flexion Therapeutics comprises 1.3% of Kingdon Capital Management L.L.C.’s investment portfolio, making the stock its 24th biggest holding. Kingdon Capital Management L.L.C. owned about 2.99% of Flexion Therapeutics worth $19,287,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Flexion Therapeutics by 66.3% during the 2nd quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock worth $27,888,000 after buying an additional 549,948 shares during the last quarter. Nexthera Capital LP purchased a new position in Flexion Therapeutics during the 2nd quarter worth approximately $4,661,000. Macquarie Group Ltd. grew its stake in Flexion Therapeutics by 0.6% during the 2nd quarter. Macquarie Group Ltd. now owns 55,917 shares of the specialty pharmaceutical company’s stock worth $1,131,000 after buying an additional 338 shares during the last quarter. Royal Bank of Canada grew its stake in Flexion Therapeutics by 24.3% during the 2nd quarter. Royal Bank of Canada now owns 384,565 shares of the specialty pharmaceutical company’s stock worth $7,776,000 after buying an additional 75,148 shares during the last quarter. Finally, Capital World Investors grew its stake in Flexion Therapeutics by 2.0% during the 2nd quarter. Capital World Investors now owns 2,538,000 shares of the specialty pharmaceutical company’s stock worth $51,318,000 after buying an additional 49,000 shares during the last quarter. Hedge funds and other institutional investors own 83.26% of the company’s stock.

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In other news, insider Yamo Deniz bought 3,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was purchased at an average cost of $24.15 per share, for a total transaction of $72,450.00. Following the completion of the transaction, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $120,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 5,375 shares of company stock valued at $131,575 over the last 90 days. 15.98% of the stock is currently owned by insiders.

A number of analysts have weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 price objective (up from $34.00) on shares of Flexion Therapeutics in a research report on Thursday, August 10th. Janney Montgomery Scott reaffirmed a “buy” rating and set a $35.00 price objective (up from $30.00) on shares of Flexion Therapeutics in a research report on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 price objective on shares of Flexion Therapeutics in a research report on Friday, July 7th. Finally, Cantor Fitzgerald set a $40.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Monday, June 12th. Two research 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 an average rating of “Buy” and a consensus target price of $32.56.

Flexion Therapeutics, Inc. (FLXN) traded down 0.881% during mid-day trading on Friday, hitting $26.881. The stock had a trading volume of 646,400 shares. Flexion Therapeutics, Inc. has a 12-month low of $15.93 and a 12-month high of $29.41. The stock’s market cap is $857.64 million. The company has a 50-day moving average of $24.45 and a 200-day moving average of $22.50.

Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results 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 ($3.74) earnings per share for the current fiscal year.

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.

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

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