Northern Trust Corp boosted its position in shares of Flexion Therapeutics, Inc. (NASDAQ:FLXN) by 6.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 367,372 shares of the specialty pharmaceutical company’s stock after acquiring an additional 22,107 shares during the period. Northern Trust Corp owned 1.16% of Flexion Therapeutics worth $7,428,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Trust Co. bought a new stake in Flexion Therapeutics during the 2nd quarter worth approximately $101,000. IFP Advisors Inc raised its stake in Flexion Therapeutics by 24.5% during the 2nd quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after acquiring an additional 1,000 shares during the period. BB&T Securities LLC bought a new stake in Flexion Therapeutics during the 2nd quarter worth approximately $289,000. American International Group Inc. raised its stake in Flexion Therapeutics by 52.3% during the 1st quarter. American International Group Inc. now owns 16,212 shares of the specialty pharmaceutical company’s stock worth $436,000 after acquiring an additional 5,569 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Flexion Therapeutics by 32.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock worth $363,000 after acquiring an additional 4,395 shares during the period. Institutional investors own 72.04% of the company’s stock.
Shares of Flexion Therapeutics, Inc. (FLXN) opened at $23.99 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 12.93 and a quick ratio of 18.29. Flexion Therapeutics, Inc. has a fifty-two week low of $15.96 and a fifty-two week high of $32.25.
A number of equities research analysts have commented on the stock. Needham & Company LLC raised their target price on shares of Flexion Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, October 9th. BMO Capital Markets restated an “outperform” rating and set a $37.00 target price (up previously from $35.00) on shares of Flexion Therapeutics in a research note on Monday, October 9th. Wells Fargo & Company set a $39.00 price objective on shares of Flexion Therapeutics and gave the company a “buy” rating in a report on Friday, October 6th. Janney Montgomery Scott increased their price objective on shares of Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a report on Tuesday, October 10th. Finally, Laidlaw reaffirmed a “buy” rating and set a $38.00 price objective (up 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 assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $98.33.
In other Flexion Therapeutics news, insider Yamo Deniz bought 1,375 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was purchased 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 owns 5,000 shares in the company, valued at approximately $127,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael D. Clayman bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired 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 approximately $835,322. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,375 shares of company stock valued at $249,575. 15.98% of the stock is currently owned by insiders.
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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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