Flexion Therapeutics Inc (FLXN) Short Interest Update
Flexion Therapeutics Inc (NASDAQ:FLXN) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 4,478,675 shares, a growth of 103.8% from the April 28th total of 2,197,140 shares. Based on an average daily trading volume, of 778,183 shares, the days-to-cover ratio is currently 5.8 days. Currently, 21.0% of the company’s shares are sold short.
In related news, CFO Frederick W. Driscoll sold 3,000 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $23.00, for a total value of $69,000.00. Following the transaction, the chief financial officer now directly owns 10,777 shares of the company’s stock, valued at approximately $247,871. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Neil Bodick sold 5,000 shares of the stock in a transaction on Friday, March 17th. The stock was sold at an average price of $20.41, for a total value of $102,050.00. Following the completion of the transaction, the insider now directly owns 50,937 shares in the company, valued at $1,039,624.17. The disclosure for this sale can be found here. Insiders sold a total of 13,000 shares of company stock worth $312,200 over the last ninety days. Corporate insiders own 18.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Keybank National Association OH increased its position in shares of Flexion Therapeutics by 0.7% in the fourth quarter. Keybank National Association OH now owns 10,357 shares of the specialty pharmaceutical company’s stock valued at $197,000 after buying an additional 67 shares during the period. Monarch Partners Asset Management LLC purchased a new position in shares of Flexion Therapeutics during the first quarter valued at approximately $279,000. Asset Management One Co. Ltd. purchased a new position in shares of Flexion Therapeutics during the first quarter valued at approximately $319,000. Janney Montgomery Scott LLC increased its position in shares of Flexion Therapeutics by 30.8% in the first quarter. Janney Montgomery Scott LLC now owns 13,575 shares of the specialty pharmaceutical company’s stock valued at $365,000 after buying an additional 3,200 shares during the period. Finally, American International Group Inc. increased its position in shares of Flexion Therapeutics by 52.3% in the first quarter. American International Group Inc. now owns 16,212 shares of the specialty pharmaceutical company’s stock valued at $436,000 after buying an additional 5,569 shares during the period. Hedge funds and other institutional investors own 62.25% of the company’s stock.
Several research analysts recently weighed in on the company. Royal Bank of Canada set a $44.00 target price on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Sunday, March 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $34.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 25th. Wells Fargo & Co reiterated an “outperform” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 25th. Janney Montgomery Scott reiterated a “buy” rating and issued a $30.00 price target on shares of Flexion Therapeutics in a report on Saturday, March 11th. Finally, Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, March 14th. One analyst has rated the stock with a sell rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $29.23.
Shares of Flexion Therapeutics (NASDAQ:FLXN) opened at 18.74 on Friday. The company has a 50-day moving average price of $22.04 and a 200 day moving average price of $20.55. The firm’s market capitalization is $595.13 million. Flexion Therapeutics has a one year low of $13.10 and a one year high of $29.41.
Flexion Therapeutics (NASDAQ:FLXN) last announced its earnings results on Thursday, May 4th. The specialty pharmaceutical company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.73) by $0.02. Analysts expect that Flexion Therapeutics will post ($3.72) earnings per share for the current fiscal year.
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Flexion Therapeutics Company 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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