Analysts predict that Flexion Therapeutics, Inc. (NASDAQ:FLXN) will report sales of $1.29 million for the current quarter, according to Zacks. Two analysts have made estimates for Flexion Therapeutics’ earnings, with the highest sales estimate coming in at $1.68 million and the lowest estimate coming in at $900,000.00. The company is scheduled to issue its next earnings report on Thursday, March 8th.
On average, analysts expect that Flexion Therapeutics will report full year sales of $1.29 million for the current fiscal year, with estimates ranging from $900,000.00 to $1.68 million. For the next financial year, analysts anticipate that the company will post sales of $25.45 million per share, with estimates ranging from $17.50 million to $41.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Flexion Therapeutics.
A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research note on Friday, August 11th. Royal Bank Of Canada set a $44.00 price target on shares of Flexion Therapeutics and gave the stock a “buy” rating in a research note on Sunday, October 29th. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $36.00 price target (up from $34.00) on shares of Flexion Therapeutics in a research note on Thursday, August 10th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Flexion Therapeutics in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Flexion Therapeutics currently has an average rating of “Buy” and a consensus price target of $98.33.
Shares of Flexion Therapeutics (NASDAQ FLXN) opened at $23.48 on Tuesday. Flexion Therapeutics has a one year low of $15.96 and a one year high of $32.25. The company has a current ratio of 12.93, a quick ratio of 12.93 and a debt-to-equity ratio of 0.87.
In other Flexion Therapeutics news, insider Michael D. Clayman bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average cost of $23.60 per share, with a total value of $118,000.00. Following the completion of the purchase, the insider now directly owns 35,395 shares in the company, valued at $835,322. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Yamo Deniz bought 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average cost of $24.15 per share, with a total value of $72,450.00. Following the completion of the purchase, the insider now owns 5,000 shares of the company’s stock, valued at $120,750. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 10,375 shares of company stock valued at $249,575. Company insiders own 15.98% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FLXN. Bank of New York Mellon Corp lifted its stake in Flexion Therapeutics by 27.9% during the second quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock valued at $54,921,000 after purchasing an additional 591,981 shares during the last quarter. State Street Corp lifted its stake in Flexion Therapeutics by 66.3% during the second quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock valued at $27,888,000 after purchasing an additional 549,948 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in Flexion Therapeutics by 58.7% during the second quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock valued at $20,588,000 after purchasing an additional 376,745 shares during the last quarter. Nexthera Capital LP acquired a new stake in Flexion Therapeutics during the second quarter valued at approximately $4,661,000. Finally, Pictet Asset Management Ltd. raised its holdings in shares of Flexion Therapeutics by 73.7% during the second quarter. Pictet Asset Management Ltd. now owns 472,796 shares of the specialty pharmaceutical company’s stock valued at $8,080,000 after acquiring an additional 200,657 shares during the period. 69.17% of the stock is owned by institutional investors and hedge funds.
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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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