Short Interest in Flexion Therapeutics Inc (NASDAQ:FLXN) Grows By 6.9%
Flexion Therapeutics Inc (NASDAQ:FLXN) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 7,916,300 shares, an increase 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 presently 12.8 days. Approximately 25.2% of the company’s shares are short sold.
Shares of NASDAQ FLXN opened at $10.91 on Wednesday. Flexion Therapeutics has a 1 year low of $9.65 and a 1 year high of $27.84. The stock’s 50 day moving average price is $11.39. The firm has a market capitalization of $409.94 million, a price-to-earnings ratio of -2.43 and a beta of 1.41. The company has a debt-to-equity ratio of 2.10, a quick ratio of 6.06 and a current ratio of 6.32.
Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Wednesday, May 8th. The specialty pharmaceutical company reported ($1.09) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.13) by $0.04. The firm had revenue of $10.56 million for the quarter, compared to the consensus estimate of $11.10 million. Flexion Therapeutics had a negative net margin of 549.07% and a negative return on equity of 131.94%. Analysts anticipate that Flexion Therapeutics will post -4.07 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Redmile Group LLC grew its stake in shares of Flexion Therapeutics by 63.1% in the first quarter. Redmile Group LLC now owns 21,630 shares of the specialty pharmaceutical company’s stock valued at $270,000 after buying an additional 8,370 shares in the last quarter. Gagnon Securities LLC raised its stake in Flexion Therapeutics by 171.2% in the first quarter. Gagnon Securities LLC now owns 688,271 shares of the specialty pharmaceutical company’s stock valued at $8,590,000 after purchasing an additional 434,448 shares in the last quarter. Gagnon Advisors LLC raised its stake in Flexion Therapeutics by 89.6% in the first quarter. Gagnon Advisors LLC now owns 401,648 shares of the specialty pharmaceutical company’s stock valued at $5,013,000 after purchasing an additional 189,860 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Flexion Therapeutics by 22.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 15,300 shares of the specialty pharmaceutical company’s stock valued at $343,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Claro Advisors LLC raised its stake in Flexion Therapeutics by 33.0% during the first quarter. Claro Advisors LLC now owns 22,150 shares of the specialty pharmaceutical company’s stock worth $276,000 after acquiring an additional 5,500 shares in the last quarter. 88.97% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on FLXN. Raymond James restated a “buy” rating on shares of Flexion Therapeutics in a research report on Thursday, March 28th. Zacks Investment Research upgraded Garrett Motion from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co restated a “buy” rating on shares of Flexion Therapeutics in a report on Wednesday, April 10th. BidaskClub lowered shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Laidlaw set a $18.00 price target on shares of Flexion Therapeutics and gave the company a “buy” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price 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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