Flexion Therapeutics Inc (FLXN) Expected to Post Quarterly Sales of $1.29 Million

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.

Flexion Therapeutics (NASDAQ:FLXN) traded up $0.16 during mid-day trading on Wednesday, hitting $25.13. The company’s stock had a trading volume of 753,847 shares, compared to its average volume of 1,274,502. Flexion Therapeutics has a 1 year low of $16.51 and a 1 year high of $32.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 12.93 and a quick ratio of 12.93. The stock has a market cap of $937.40, a P/E ratio of -7.16 and a beta of 1.15.

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.

COPYRIGHT VIOLATION NOTICE: “Flexion Therapeutics Inc (FLXN) Expected to Post Quarterly Sales of $1.29 Million” was first reported by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.com-unik.info/2017/12/23/flexion-therapeutics-inc-flxn-expected-to-post-quarterly-sales-of-1-29-million.html.

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.

Get a free copy of the Zacks research report on Flexion Therapeutics (FLXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Flexion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit