Flexion Therapeutics Inc (FLXN) Expected to Announce Quarterly Sales of $1.29 Million
Equities research analysts expect Flexion Therapeutics Inc (NASDAQ:FLXN) to report sales of $1.29 million for the current quarter, according to Zacks. Two analysts have issued estimates for Flexion Therapeutics’ earnings, with estimates ranging from $900,000.00 to $1.68 million. The company is expected 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 year, with estimates ranging from $900,000.00 to $1.68 million. For the next fiscal year, analysts expect that the firm will post 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 follow Flexion Therapeutics.
A number of research firms have recently commented on FLXN. BMO Capital Markets reaffirmed an “outperform” rating and set a $37.00 price target (up previously from $35.00) on shares of Flexion Therapeutics in a research report on Monday, October 9th. Needham & Company LLC raised their price target on Flexion Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Wells Fargo & Company set a $39.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a research report on Friday, October 6th. Laidlaw reaffirmed a “buy” rating and set a $38.00 price target (up previously from $35.00) on shares of Flexion Therapeutics in a research report on Tuesday, October 10th. Finally, Janney Montgomery Scott raised their price target on Flexion Therapeutics to $570.00 and gave the stock a “fair value” rating in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $98.33.
In related news, insider Michael D. Clayman purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average cost of $23.60 per share, for a total transaction 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 acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Neil Bodick purchased 2,700 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was bought at an average price of $24.49 per share, with a total value of $66,123.00. Following the completion of the purchase, the insider now owns 64,605 shares of the company’s stock, valued at $1,582,176.45. The disclosure for this purchase can be found here. 15.98% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of FLXN. Bank of New York Mellon Corp boosted its stake in shares of Flexion Therapeutics by 27.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock worth $54,921,000 after acquiring an additional 591,981 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Flexion Therapeutics by 32.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 17,970 shares of the specialty pharmaceutical company’s stock worth $363,000 after acquiring an additional 4,395 shares during the period. Teachers Advisors LLC lifted its holdings in Flexion Therapeutics by 3.1% during the 1st quarter. Teachers Advisors LLC now owns 44,796 shares of the specialty pharmaceutical company’s stock worth $1,205,000 after purchasing an additional 1,328 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Flexion Therapeutics by 5.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock worth $21,321,000 after purchasing an additional 59,143 shares during the last quarter. Finally, Scholtz & Company LLC acquired a new stake in Flexion Therapeutics during the 2nd quarter worth approximately $1,131,000. Hedge funds and other institutional investors own 72.78% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was first posted by Watch List News and is owned by of Watch List News. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.watchlistnews.com/flexion-therapeutics-inc-flxn-expected-to-announce-quarterly-sales-of-1-29-million/1774041.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.
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.