Flexion Therapeutics Inc (NASDAQ:FLXN) Expected to Post Quarterly Sales of $9.50 Million

Brokerages forecast that Flexion Therapeutics Inc (NASDAQ:FLXN) will announce $9.50 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Flexion Therapeutics’ earnings. The highest sales estimate is $11.80 million and the lowest is $8.00 million. Flexion Therapeutics reported sales of $16.95 million during the same quarter last year, which indicates a negative year-over-year growth rate of 44%. The business is scheduled to issue its next earnings report on Tuesday, August 4th.

On average, analysts expect that Flexion Therapeutics will report full-year sales of $73.78 million for the current fiscal year, with estimates ranging from $65.13 million to $84.80 million. For the next financial year, analysts expect that the company will report sales of $164.13 million, with estimates ranging from $150.00 million to $185.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Flexion Therapeutics.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings results on Thursday, May 7th. The specialty pharmaceutical company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.05. Flexion Therapeutics had a negative net margin of 175.76% and a negative return on equity of 592.50%. The business had revenue of $20.13 million for the quarter, compared to analysts’ expectations of $18.45 million.

A number of analysts recently commented on FLXN shares. Northland Securities started coverage on shares of Flexion Therapeutics in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $35.00 target price for the company. HC Wainwright assumed coverage on shares of Flexion Therapeutics in a research report on Thursday, June 25th. They set a “buy” rating and a $25.00 price target for the company. ValuEngine raised shares of Flexion Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Raymond James reduced their price target on shares of Flexion Therapeutics from $23.00 to $20.00 and set a “strong-buy” rating for the company in a research report on Monday, April 27th. Finally, Needham & Company LLC cut their target price on shares of Flexion Therapeutics from $30.00 to $20.00 and set a “buy” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.64.

Shares of NASDAQ:FLXN traded down $0.17 during trading on Friday, reaching $11.99. The stock had a trading volume of 316,500 shares, compared to its average volume of 648,193. The firm’s 50-day simple moving average is $12.00 and its 200 day simple moving average is $13.17. Flexion Therapeutics has a one year low of $5.01 and a one year high of $22.98.

In other Flexion Therapeutics news, CEO Michael D. Clayman purchased 10,256 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $9.75 per share, for a total transaction of $99,996.00. Following the completion of the purchase, the chief executive officer now directly owns 64,957 shares of the company’s stock, valued at $633,330.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.03% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Moody National Bank Trust Division acquired a new stake in shares of Flexion Therapeutics in the second quarter valued at approximately $5,067,000. AQR Capital Management LLC purchased a new position in Flexion Therapeutics in the first quarter worth $101,000. Squarepoint Ops LLC raised its position in Flexion Therapeutics by 5.1% in the first quarter. Squarepoint Ops LLC now owns 41,043 shares of the specialty pharmaceutical company’s stock worth $323,000 after acquiring an additional 1,987 shares in the last quarter. Paloma Partners Management Co purchased a new position in Flexion Therapeutics in the first quarter worth $92,000. Finally, Invesco Ltd. raised its position in Flexion Therapeutics by 31.3% in the first quarter. Invesco Ltd. now owns 97,032 shares of the specialty pharmaceutical company’s stock worth $764,000 after acquiring an additional 23,129 shares in the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

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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