$18.07 Million in Sales Expected for Flexion Therapeutics Inc (NASDAQ:FLXN) This Quarter

Wall Street analysts forecast that Flexion Therapeutics Inc (NASDAQ:FLXN) will announce $18.07 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Flexion Therapeutics’ earnings, with the lowest sales estimate coming in at $16.50 million and the highest estimate coming in at $19.00 million. Flexion Therapeutics posted sales of $6.99 million in the same quarter last year, which suggests a positive year over year growth rate of 158.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 6th.

On average, analysts expect that Flexion Therapeutics will report full-year sales of $67.45 million for the current financial year, with estimates ranging from $61.50 million to $70.80 million. For the next fiscal year, analysts forecast that the firm will post sales of $142.30 million, with estimates ranging from $127.60 million to $169.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Flexion Therapeutics.

Flexion Therapeutics (NASDAQ:FLXN) last posted its earnings results on Tuesday, August 6th. The specialty pharmaceutical company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.10. The company had revenue of $16.95 million for the quarter, compared to analyst estimates of $14.03 million. Flexion Therapeutics had a negative net margin of 368.31% and a negative return on equity of 175.29%.

FLXN has been the topic of a number of research analyst reports. Northland Securities reissued a “buy” rating and issued a $20.00 price target on shares of Flexion Therapeutics in a research note on Thursday, May 9th. ValuEngine raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Benchmark raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, May 9th. BidaskClub raised shares of Flexion Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, Zacks Investment Research raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $23.57.

In other Flexion Therapeutics news, CFO David Arkowitz bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $11.05 per share, with a total value of $27,625.00. Following the purchase, the chief financial officer now directly owns 89,424 shares in the company, valued at $988,135.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael D. Clayman bought 2,317 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $10.85 per share, for a total transaction of $25,139.45. Following the completion of the purchase, the insider now owns 72,249 shares in the company, valued at $783,901.65. The disclosure for this purchase can be found here. Insiders bought a total of 6,817 shares of company stock worth $74,244 over the last three months. Insiders own 16.01% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Flexion Therapeutics by 10.5% during the 2nd quarter. Vanguard Group Inc. now owns 1,879,528 shares of the specialty pharmaceutical company’s stock worth $23,118,000 after buying an additional 178,040 shares during the period. Pictet Asset Management Ltd. increased its stake in Flexion Therapeutics by 0.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 1,432,159 shares of the specialty pharmaceutical company’s stock worth $17,873,000 after buying an additional 8,139 shares during the period. Wasatch Advisors Inc. increased its stake in Flexion Therapeutics by 7.0% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,087,130 shares of the specialty pharmaceutical company’s stock worth $13,372,000 after buying an additional 70,993 shares during the period. Clearline Capital LP increased its stake in Flexion Therapeutics by 63.6% during the 2nd quarter. Clearline Capital LP now owns 910,542 shares of the specialty pharmaceutical company’s stock worth $11,200,000 after buying an additional 353,832 shares during the period. Finally, Gagnon Securities LLC increased its stake in Flexion Therapeutics by 9.5% during the 2nd quarter. Gagnon Securities LLC now owns 753,794 shares of the specialty pharmaceutical company’s stock worth $9,272,000 after buying an additional 65,523 shares during the period. 83.23% of the stock is currently owned by hedge funds and other institutional investors.

Flexion Therapeutics stock opened at $11.07 on Tuesday. The company’s 50 day simple moving average is $10.58 and its 200-day simple moving average is $11.82. Flexion Therapeutics has a 1 year low of $8.76 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 3.95, a current ratio of 7.80 and a quick ratio of 7.33.

Flexion Therapeutics Company Profile

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-inflammatory and analgesic therapies for the treatment of patients with musculoskeletal conditions. It offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) pain of the knee in the United States.

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