Royal Bank of Canada Boosts Position in Flexion Therapeutics, Inc. (NASDAQ:FLXN)

Royal Bank of Canada grew its position in shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 24.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 384,565 shares of the specialty pharmaceutical company’s stock after purchasing an additional 75,148 shares during the quarter. Royal Bank of Canada owned approximately 1.21% of Flexion Therapeutics worth $7,776,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in FLXN. Bank of New York Mellon Corp boosted its stake in shares of Flexion Therapeutics by 27.9% during 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 purchasing an additional 591,981 shares in the last quarter. State Street Corp lifted its stake in shares of Flexion Therapeutics by 111.8% in the first quarter. State Street Corp now owns 829,254 shares of the specialty pharmaceutical company’s stock worth $22,316,000 after acquiring an additional 437,648 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of 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 worth $8,080,000 after acquiring an additional 200,657 shares during the period. Zweig DiMenna Associates LLC acquired a new position in shares of Flexion Therapeutics in the second quarter worth approximately $3,779,000. Finally, Schroder Investment Management Group lifted its stake in shares of Flexion Therapeutics by 29.3% in the second quarter. Schroder Investment Management Group now owns 509,427 shares of the specialty pharmaceutical company’s stock worth $10,474,000 after acquiring an additional 115,413 shares during the period. 72.37% of the stock is currently owned by hedge funds and other institutional investors.

Flexion Therapeutics, Inc. (NASDAQ FLXN) opened at 21.63 on Friday. The stock’s market cap is $690.11 million. The stock’s 50 day moving average price is $24.85 and its 200-day moving average price is $22.40. Flexion Therapeutics, Inc. has a 12 month low of $15.93 and a 12 month high of $32.25.

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 the Zacks’ consensus estimate of ($0.80) by ($0.11). Analysts anticipate that Flexion Therapeutics, Inc. will post ($3.76) EPS for the current fiscal year.

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In other Flexion Therapeutics news, insider Yamo Deniz bought 1,375 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were acquired at an average cost of $25.40 per share, with a total value of $34,925.00. Following the purchase, the insider now directly owns 5,000 shares of the company’s stock, valued at approximately $127,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders acquired a total of 5,375 shares of company stock worth $131,575 over the last three months. Corporate insiders own 15.98% of the company’s stock.

A number of equities research analysts have weighed in on the company. Wells Fargo & Company set a $39.00 target price on Flexion Therapeutics and gave the stock a “buy” rating in a report on Friday, October 6th. Needham & Company LLC lifted their target price on Flexion Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, October 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $37.00 target price (up from $35.00) on shares of Flexion Therapeutics in a report on Monday, October 9th. Janney Montgomery Scott boosted their price objective on Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a report on Tuesday, October 10th. Finally, Laidlaw restated a “buy” rating and set a $38.00 price objective (up previously from $35.00) on shares of Flexion Therapeutics in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $88.50.

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.

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

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