Flexion Therapeutics Inc (NASDAQ:FLXN) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 7,916,300 shares, a growth of 6.9% from the May 30th total of 7,405,900 shares. Based on an average daily volume of 618,400 shares, the days-to-cover ratio is currently 12.8 days. Approximately 25.2% of the company’s stock are short sold.
In other Flexion Therapeutics news, Director C Ann Merrifield acquired 8,000 shares of Flexion Therapeutics stock in a transaction on Thursday, May 23rd. The stock was purchased at an average price of $12.64 per share, for a total transaction of $101,120.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $126,400. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David Arkowitz acquired 2,500 shares of Flexion Therapeutics stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $11.05 per share, with a total value of $27,625.00. Following the purchase, the chief financial officer now directly owns 89,424 shares in the company, valued at $988,135.20. The disclosure for this purchase can be found here. Insiders have bought 18,512 shares of company stock worth $226,775 over the last ninety days. 16.01% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Flexion Therapeutics by 47.7% during the fourth quarter. Rhumbline Advisers now owns 45,566 shares of the specialty pharmaceutical company’s stock worth $516,000 after purchasing an additional 14,713 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Flexion Therapeutics by 10.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 42,365 shares of the specialty pharmaceutical company’s stock worth $479,000 after acquiring an additional 4,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in Flexion Therapeutics by 6.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 72,595 shares of the specialty pharmaceutical company’s stock worth $822,000 after purchasing an additional 4,356 shares during the period. Advisor Group Inc. boosted its stake in Flexion Therapeutics by 68.2% in the 4th quarter. Advisor Group Inc. now owns 8,608 shares of the specialty pharmaceutical company’s stock worth $97,000 after purchasing an additional 3,490 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Flexion Therapeutics by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 384,433 shares of the specialty pharmaceutical company’s stock worth $4,351,000 after purchasing an additional 7,814 shares during the period. Hedge funds and other institutional investors own 88.97% of the company’s stock.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.04. Flexion Therapeutics had a negative return on equity of 131.94% and a negative net margin of 549.07%. The company had revenue of $10.56 million during the quarter, compared to analyst estimates of $11.10 million. On average, sell-side analysts forecast that Flexion Therapeutics will post -4.07 earnings per share for the current fiscal year.
Several brokerages have commented on FLXN. Benchmark restated a “buy” rating on shares of Gray Television in a research note on Thursday, May 9th. BidaskClub cut Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 9th. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Zacks Investment Research raised Garrett Motion from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Finally, Laidlaw set a $18.00 price objective on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. Flexion Therapeutics currently has an average rating of “Buy” and a consensus price target of $23.71.
Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee in the United States.
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