Eaton Vance Management lifted its stake in shares of Flexion Therapeutics Inc (NASDAQ:FLXN) by 37.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,900 shares of the specialty pharmaceutical company’s stock after acquiring an additional 3,500 shares during the quarter. Eaton Vance Management’s holdings in Flexion Therapeutics were worth $323,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN grew its position in Flexion Therapeutics by 1,024.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,706,942 shares of the specialty pharmaceutical company’s stock valued at $42,742,000 after acquiring an additional 1,555,093 shares during the last quarter. State Street Corp grew its position in shares of Flexion Therapeutics by 66.3% during the 2nd quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock worth $27,888,000 after buying an additional 549,948 shares in the last quarter. BlackRock Inc. grew its position in shares of Flexion Therapeutics by 17.4% during the 4th quarter. BlackRock Inc. now owns 2,650,986 shares of the specialty pharmaceutical company’s stock worth $66,381,000 after buying an additional 392,055 shares in the last quarter. American Financial Group Inc. bought a new stake in Flexion Therapeutics during the fourth quarter valued at about $5,280,000. Finally, Bank of New York Mellon Corp boosted its position in Flexion Therapeutics by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,773,686 shares of the specialty pharmaceutical company’s stock valued at $69,453,000 after purchasing an additional 174,979 shares in the last quarter. Institutional investors and hedge funds own 94.71% of the company’s stock.
A number of equities research analysts have commented on FLXN shares. ValuEngine upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. BidaskClub cut Flexion Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 20th. Zacks Investment Research cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, January 30th. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (down from $37.00) on shares of Flexion Therapeutics in a report on Friday, March 9th. Finally, Berenberg Bank assumed coverage on Flexion Therapeutics in a research note on Thursday, February 1st. They issued a “buy” rating and a $42.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $99.00.
Flexion Therapeutics Inc (NASDAQ:FLXN) traded down $1.09 on Wednesday, reaching $25.97. The company had a trading volume of 549,085 shares, compared to its average volume of 732,132. Flexion Therapeutics Inc has a 1 year low of $16.51 and a 1 year high of $32.25. The firm has a market cap of $1,051.09, a PE ratio of -6.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.58, a current ratio of 13.02 and a quick ratio of 12.96.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Thursday, March 8th. The specialty pharmaceutical company reported ($1.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.11) by ($0.27). The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $1.29 million. equities research analysts anticipate that Flexion Therapeutics Inc will post -4.89 EPS for the current year.
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About Flexion Therapeutics
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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