Flexion Therapeutics (FLXN) Trading Up 5.3% on Insider Buying Activity

Flexion Therapeutics Inc (NASDAQ:FLXN) shares were up 5.3% during mid-day trading on Thursday after an insider bought additional shares in the company. The stock traded as high as $13.40 and last traded at $13.26. Approximately 703,027 shares changed hands during trading, an increase of 4% from the average daily volume of 673,735 shares. The stock had previously closed at $12.59.

Specifically, insider Michael D. Clayman purchased 4,012 shares of the stock in a transaction on Friday, May 10th. The shares were purchased at an average price of $12.48 per share, with a total value of $50,069.76. Following the acquisition, the insider now directly owns 74,868 shares in the company, valued at approximately $934,352.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO David Arkowitz purchased 4,000 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $11.99 per share, for a total transaction of $47,960.00. Following the acquisition, the chief financial officer now owns 86,924 shares in the company, valued at $1,042,218.76. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,058 shares of company stock worth $148,038. Insiders own 16.01% of the company’s stock.

A number of brokerages recently weighed in on FLXN. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. BidaskClub cut Flexion Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, March 16th. Laidlaw set a $18.00 price objective on Flexion Therapeutics and gave the company a “buy” rating in a report on Thursday, April 11th. ValuEngine cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Flexion Therapeutics in a report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Flexion Therapeutics presently has an average rating of “Buy” and an average target price of $23.71.

The firm has a market cap of $464.27 million, a price-to-earnings ratio of -2.95 and a beta of 1.56. The company has a quick ratio of 6.06, a current ratio of 6.32 and a debt-to-equity ratio of 2.10.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.13) by $0.04. The company had revenue of $10.56 million for the quarter, compared to analysts’ expectations of $11.10 million. Flexion Therapeutics had a negative return on equity of 131.94% and a negative net margin of 549.07%. On average, analysts anticipate that Flexion Therapeutics Inc will post -4.07 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Next Capital Management LLC bought a new stake in shares of Flexion Therapeutics in the 4th quarter worth approximately $84,000. BNP Paribas Arbitrage SA boosted its holdings in Flexion Therapeutics by 53,692.3% in the first quarter. BNP Paribas Arbitrage SA now owns 6,993 shares of the specialty pharmaceutical company’s stock worth $87,000 after acquiring an additional 6,980 shares in the last quarter. Advisor Group Inc. boosted its holdings in Flexion Therapeutics by 68.2% in the fourth quarter. Advisor Group Inc. now owns 8,608 shares of the specialty pharmaceutical company’s stock worth $97,000 after acquiring an additional 3,490 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in Flexion Therapeutics by 341.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 10,455 shares of the specialty pharmaceutical company’s stock worth $118,000 after acquiring an additional 8,084 shares in the last quarter. Finally, Royce & Associates LP bought a new stake in Flexion Therapeutics in the first quarter worth $187,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

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About Flexion Therapeutics (NASDAQ:FLXN)

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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