Nicholas Investment Partners LP reduced its stake in shares of Flexion Therapeutics Inc (NASDAQ:FLXN) by 38.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,434 shares of the specialty pharmaceutical company’s stock after selling 22,421 shares during the quarter. Nicholas Investment Partners LP owned 0.10% of Flexion Therapeutics worth $881,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FLXN. Fiduciary Trust Co. acquired a new position in Flexion Therapeutics during the 2nd quarter valued at $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 valued at $103,000 after purchasing an additional 1,000 shares during the last quarter. Advisor Group Inc. raised its stake in Flexion Therapeutics by 205.9% during the 2nd quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock valued at $105,000 after purchasing an additional 3,500 shares during the last quarter. SG Americas Securities LLC acquired a new position in Flexion Therapeutics during the 3rd quarter valued at $135,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Flexion Therapeutics during the 3rd quarter valued at $235,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.
FLXN has been the subject of several research analyst reports. Wells Fargo & Company set a $39.00 target price on shares of Flexion Therapeutics and gave the company a “buy” rating in a research note on Monday, October 30th. Janney Montgomery Scott upped their target price on shares of Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a research note on Tuesday, October 10th. Needham & Company LLC reiterated a “buy” rating and set a $36.00 target price on shares of Flexion Therapeutics in a research note on Sunday, September 17th. Northland Securities reiterated a “buy” rating and set a $40.00 target price on shares of Flexion Therapeutics in a research note on Wednesday, October 4th. Finally, Zacks Investment Research cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Flexion Therapeutics presently has a consensus rating of “Buy” and an average target price of $98.33.
Flexion Therapeutics Inc (NASDAQ FLXN) opened at $24.94 on Thursday. Flexion Therapeutics Inc has a one year low of $16.51 and a one year high of $32.25. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87.
In other Flexion Therapeutics news, insider Neil Bodick acquired 2,700 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $24.49 per share, for a total transaction of $66,123.00. Following the purchase, the insider now owns 64,605 shares in the company, valued at approximately $1,582,176.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael D. Clayman acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of $23.60 per share, with a total value of $118,000.00. Following the purchase, the insider now owns 35,395 shares in the company, valued at approximately $835,322. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.
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.
Receive News & Ratings for Flexion Therapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.