TIAA CREF Investment Management LLC Has $1.50 Million Stake in Flexion Therapeutics, Inc. (FLXN)
TIAA CREF Investment Management LLC cut its stake in Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,402 shares of the specialty pharmaceutical company’s stock after selling 7,626 shares during the quarter. TIAA CREF Investment Management LLC owned 0.23% of Flexion Therapeutics worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Fiduciary Trust Co. purchased a new stake in shares of Flexion Therapeutics in the second quarter worth approximately $101,000. 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 purchasing an additional 1,000 shares during the last quarter. BB&T Securities LLC purchased a new stake in shares of Flexion Therapeutics in the second quarter worth approximately $289,000. Janney Montgomery Scott LLC raised its stake in shares of Flexion Therapeutics by 32.4% in the second quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock worth $363,000 after purchasing an additional 4,395 shares during the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Flexion Therapeutics by 86.0% in the second quarter. Monarch Partners Asset Management LLC now owns 19,310 shares of the specialty pharmaceutical company’s stock worth $390,000 after purchasing an additional 8,930 shares during the last quarter. 72.04% of the stock is owned by hedge funds and other institutional investors.
Flexion Therapeutics, Inc. (NASDAQ FLXN) opened at $23.25 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 18.29 and a quick ratio of 18.29.
Flexion Therapeutics (NASDAQ:FLXN) last released its earnings results on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.11). research analysts forecast that Flexion Therapeutics, Inc. will post -3.71 EPS for the current fiscal year.
Several analysts have recently commented on FLXN shares. Wells Fargo & Company set a $39.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a research note on Monday, October 30th. Northland Securities started coverage on Flexion Therapeutics in a research note on Thursday, August 24th. They issued an “outperform” rating and a $40.00 price objective for the company. Zacks Investment Research downgraded Flexion Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Needham & Company LLC increased their price objective on Flexion Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. Finally, Janney Montgomery Scott reissued a “buy” rating and issued a $35.00 price objective (up from $30.00) on shares of Flexion Therapeutics in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Flexion Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $88.50.
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In other Flexion Therapeutics news, insider Yamo Deniz bought 1,375 shares of Flexion Therapeutics stock in a transaction dated Thursday, August 31st. The stock was bought at an average cost of $25.40 per share, with a total value of $34,925.00. Following the completion of the acquisition, the insider now directly owns 5,000 shares in the company, valued at approximately $127,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders bought 5,375 shares of company stock valued at $131,575. 15.98% of the stock is currently owned by corporate insiders.
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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