Flexion Therapeutics Inc (FLXN) Expected to Announce Quarterly Sales of $9.66 Million

Equities research analysts predict that Flexion Therapeutics Inc (NASDAQ:FLXN) will announce sales of $9.66 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Flexion Therapeutics’ earnings, with estimates ranging from $8.60 million to $10.75 million. Flexion Therapeutics posted sales of $360,000.00 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2,583.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 14th.

On average, analysts expect that Flexion Therapeutics will report full-year sales of $22.63 million for the current financial year, with estimates ranging from $21.60 million to $23.73 million. For the next year, analysts forecast that the business will report sales of $111.58 million, with estimates ranging from $81.10 million to $143.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Flexion Therapeutics.

Flexion Therapeutics (NASDAQ:FLXN) last issued its earnings results on Wednesday, November 7th. The specialty pharmaceutical company reported ($1.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.09. The business had revenue of $6.99 million during the quarter, compared to analyst estimates of $5.93 million. Flexion Therapeutics had a negative return on equity of 88.21% and a negative net margin of 1,346.87%.

Several research firms have recently commented on FLXN. Wells Fargo & Co reissued a “buy” rating on shares of Flexion Therapeutics in a research report on Monday, November 5th. Zacks Investment Research raised Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, August 10th. ValuEngine raised Flexion Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, BidaskClub raised Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $36.20.

In related news, insider Michael D. Clayman purchased 5,000 shares of Flexion Therapeutics stock in a transaction dated Friday, November 9th. The stock was purchased at an average cost of $17.10 per share, with a total value of $85,500.00. Following the transaction, the insider now owns 83,295 shares in the company, valued at approximately $1,424,344.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO David Arkowitz purchased 4,000 shares of Flexion Therapeutics stock in a transaction dated Friday, November 9th. The stock was bought at an average cost of $16.56 per share, with a total value of $66,240.00. Following the completion of the transaction, the chief financial officer now owns 48,250 shares in the company, valued at approximately $799,020. The disclosure for this purchase can be found here. Insiders own 14.59% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLXN. BlackRock Inc. increased its position in Flexion Therapeutics by 1.4% during the 3rd quarter. BlackRock Inc. now owns 2,868,988 shares of the specialty pharmaceutical company’s stock valued at $53,679,000 after buying an additional 39,511 shares in the last quarter. Rubric Capital Management LP increased its position in Flexion Therapeutics by 7.7% during the 3rd quarter. Rubric Capital Management LP now owns 2,125,000 shares of the specialty pharmaceutical company’s stock valued at $39,759,000 after buying an additional 151,286 shares in the last quarter. Vanguard Group Inc. increased its position in Flexion Therapeutics by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,619,112 shares of the specialty pharmaceutical company’s stock valued at $30,294,000 after buying an additional 18,323 shares in the last quarter. Pictet Asset Management Ltd. increased its position in Flexion Therapeutics by 10.7% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,362,171 shares of the specialty pharmaceutical company’s stock valued at $25,486,000 after buying an additional 131,115 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Flexion Therapeutics during the 3rd quarter valued at about $23,768,000. 99.60% of the stock is owned by hedge funds and other institutional investors.

NASDAQ FLXN traded down $0.15 on Friday, reaching $15.84. 261,488 shares of the stock traded hands, compared to its average volume of 763,724. The company has a quick ratio of 8.74, a current ratio of 8.88 and a debt-to-equity ratio of 1.02. The firm has a market cap of $599.65 million, a PE ratio of -3.81 and a beta of 1.13. Flexion Therapeutics has a 12 month low of $13.36 and a 12 month high of $29.10.

About Flexion Therapeutics

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It lead product candidate includes Zilretta, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee.

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