Peregrine Capital Management LLC reduced its position in Flexion Therapeutics Inc (NASDAQ:FLXN) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 571,188 shares of the specialty pharmaceutical company’s stock after selling 19,110 shares during the period. Peregrine Capital Management LLC owned about 1.48% of Flexion Therapeutics worth $7,511,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors Inc. lifted its stake in Flexion Therapeutics by 6.8% in the first quarter. Wasatch Advisors Inc. now owns 2,315,642 shares of the specialty pharmaceutical company’s stock valued at $18,224,000 after buying an additional 146,785 shares in the last quarter. Granahan Investment Management Inc. MA bought a new position in Flexion Therapeutics in the first quarter valued at approximately $5,554,000. Schroder Investment Management Group lifted its stake in Flexion Therapeutics by 3.7% in the first quarter. Schroder Investment Management Group now owns 632,823 shares of the specialty pharmaceutical company’s stock valued at $4,904,000 after buying an additional 22,633 shares in the last quarter. Geode Capital Management LLC lifted its stake in Flexion Therapeutics by 7.3% in the first quarter. Geode Capital Management LLC now owns 508,040 shares of the specialty pharmaceutical company’s stock valued at $3,998,000 after buying an additional 34,523 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Flexion Therapeutics by 71.5% in the first quarter. Nuveen Asset Management LLC now owns 391,987 shares of the specialty pharmaceutical company’s stock valued at $3,085,000 after buying an additional 163,383 shares in the last quarter. 82.19% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Michael D. Clayman bought 10,256 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $9.75 per share, for a total transaction of $99,996.00. Following the completion of the acquisition, the chief executive officer now owns 64,957 shares in the company, valued at $633,330.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.03% of the stock is currently owned by insiders.

FLXN has been the topic of a number of research reports. Credit Suisse Group initiated coverage on shares of Flexion Therapeutics in a research note on Wednesday. They issued an “outperform” rating and a $19.00 price target on the stock. Raymond James cut their price target on shares of Flexion Therapeutics from $23.00 to $20.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 27th. Oppenheimer assumed coverage on shares of Flexion Therapeutics in a research report on Thursday. They issued an “outperform” rating and a $19.00 price objective on the stock. BidaskClub lowered shares of Flexion Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, July 10th. Finally, Royal Bank of Canada cut their price objective on shares of Flexion Therapeutics from $20.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, May 8th. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $22.08.

FLXN traded down $0.28 during trading on Friday, reaching $13.57. 785,302 shares of the stock were exchanged, compared to its average volume of 519,513. The stock has a market cap of $523.26 million, a P/E ratio of -3.58 and a beta of 2.10. Flexion Therapeutics Inc has a twelve month low of $5.01 and a twelve month high of $22.98. The stock’s 50 day moving average price is $12.64 and its two-hundred day moving average price is $12.41.

Flexion Therapeutics (NASDAQ:FLXN) last issued its earnings results on Thursday, May 7th. The specialty pharmaceutical company reported ($0.95) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.00) by $0.05. The business had revenue of $20.13 million for the quarter, compared to the consensus estimate of $18.45 million. Flexion Therapeutics had a negative net margin of 175.76% and a negative return on equity of 592.50%. On average, equities analysts anticipate that Flexion Therapeutics Inc will post -2.62 EPS for the current year.

About Flexion Therapeutics

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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Institutional Ownership by Quarter for Flexion Therapeutics (NASDAQ:FLXN)

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