Wall Street brokerages predict that Flexion Therapeutics, Inc. (NASDAQ:FLXN) will post $28.02 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Flexion Therapeutics’ earnings. The lowest sales estimate is $26.67 million and the highest is $29.00 million. Flexion Therapeutics reported sales of $15.45 million during the same quarter last year, which indicates a positive year over year growth rate of 81.4%. The business is expected to issue its next quarterly earnings report on Wednesday, August 4th.
On average, analysts expect that Flexion Therapeutics will report full year sales of $124.75 million for the current year, with estimates ranging from $121.56 million to $130.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $191.27 million, with estimates ranging from $175.00 million to $220.00 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Flexion Therapeutics.
Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings data on Wednesday, May 12th. The specialty pharmaceutical company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.08). The company had revenue of $24.59 million for the quarter, compared to the consensus estimate of $24.61 million.
In other news, insider Christina Willwerth sold 3,945 shares of the stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $6.45, for a total value of $25,445.25. Following the transaction, the insider now owns 133,486 shares in the company, valued at approximately $860,984.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.13% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLXN. Clearline Capital LP bought a new stake in Flexion Therapeutics during the 1st quarter worth approximately $12,560,000. Orbimed Advisors LLC raised its stake in Flexion Therapeutics by 37.1% during the 4th quarter. Orbimed Advisors LLC now owns 2,308,083 shares of the specialty pharmaceutical company’s stock worth $26,635,000 after acquiring an additional 624,083 shares during the period. Phocas Financial Corp. bought a new stake in Flexion Therapeutics during the 4th quarter worth approximately $2,661,000. Goldman Sachs Group Inc. raised its stake in Flexion Therapeutics by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,018,351 shares of the specialty pharmaceutical company’s stock worth $9,115,000 after acquiring an additional 190,824 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Flexion Therapeutics by 35.3% during the 1st quarter. JPMorgan Chase & Co. now owns 726,154 shares of the specialty pharmaceutical company’s stock worth $6,499,000 after acquiring an additional 189,553 shares during the period. Institutional investors own 93.98% of the company’s stock.
FLXN traded down $0.36 during midday trading on Friday, hitting $6.62. 14,385 shares of the company traded hands, compared to its average volume of 592,548. The firm has a market cap of $330.60 million, a price-to-earnings ratio of -3.13 and a beta of 1.38. The firm has a 50-day moving average of $8.29. Flexion Therapeutics has a 52 week low of $6.23 and a 52 week high of $14.39.
Flexion Therapeutics Company Profile
Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of patients with musculoskeletal conditions in the United States. The company offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) knee pain.
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.