Equities research analysts expect Flexion Therapeutics Inc (NASDAQ:FLXN) to announce $1.29 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Flexion Therapeutics’ earnings, with the lowest sales estimate coming in at $900,000.00 and the highest estimate coming in at $1.68 million. The company is scheduled to issue its next quarterly earnings report on Thursday, March 8th.
According to Zacks, 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 business will report sales of $25.45 million per share, with estimates ranging from $17.50 million to $41.70 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Flexion Therapeutics.
A number of research firms have weighed in on FLXN. Royal Bank of Canada set a $44.00 target price on Flexion Therapeutics and gave the stock a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $37.00 price objective (up from $35.00) on shares of Flexion Therapeutics in a research report on Monday, October 9th. Needham & Company LLC upped their price objective on Flexion Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, October 9th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Flexion Therapeutics in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $106.25.
In other news, insider Neil Bodick purchased 2,700 shares of the stock in a transaction dated Tuesday, November 21st. The shares were purchased at an average cost of $24.49 per share, with a total value of $66,123.00. Following the acquisition, the insider now directly owns 64,605 shares of the company’s stock, valued at $1,582,176.45. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael D. Clayman purchased 5,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average cost of $23.60 per share, for a total transaction of $118,000.00. Following the completion of the acquisition, the insider now directly owns 35,395 shares in the company, valued at $835,322. The disclosure for this purchase can be found here. Corporate insiders own 15.98% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Bank of New York Mellon Corp grew its position in shares of 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 in the last quarter. Janney Montgomery Scott LLC increased its holdings in Flexion Therapeutics by 32.4% during the second quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock valued at $363,000 after buying an additional 4,395 shares during the period. Teachers Advisors LLC increased its holdings in Flexion Therapeutics by 3.1% during the first quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock valued at $1,205,000 after buying an additional 1,328 shares during the period. Vanguard Group Inc. increased its holdings in Flexion Therapeutics by 5.9% during the second quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock valued at $21,321,000 after buying an additional 59,143 shares during the period. Finally, Scholtz & Company LLC purchased a new position in Flexion Therapeutics during the second quarter valued at approximately $1,131,000. 72.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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