Brokerages expect Flexion Therapeutics Inc (NASDAQ:FLXN) to report $2.80 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Flexion Therapeutics’ earnings. The highest sales estimate is $3.40 million and the lowest is $2.20 million. The company is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Flexion Therapeutics will report full-year sales of $2.80 million for the current fiscal year, with estimates ranging from $17.50 million to $41.70 million. For the next fiscal year, analysts forecast that the company will post sales of $131.71 million per share, with estimates ranging from $100.00 million to $196.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Flexion Therapeutics.
Flexion Therapeutics (NASDAQ:FLXN) last issued its earnings results on Thursday, March 8th. The specialty pharmaceutical company reported ($1.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.27). The firm had revenue of $0.36 million for the quarter, compared to analyst estimates of $1.29 million.
A number of equities research analysts have recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (down from $37.00) on shares of Flexion Therapeutics in a research report on Friday, March 9th. Zacks Investment Research cut shares of Flexion Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Flexion Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 28th. ValuEngine upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Berenberg Bank assumed coverage on shares of Flexion Therapeutics in a research report on Thursday, February 1st. They issued a “buy” rating and a $42.00 target price for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $99.00.
A number of institutional investors have recently added to or reduced their stakes in FLXN. Advisory Services Network LLC acquired a new stake in Flexion Therapeutics during the fourth quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in Flexion Therapeutics during the third quarter worth about $135,000. State Board of Administration of Florida Retirement System acquired a new stake in Flexion Therapeutics during the third quarter worth about $235,000. Teacher Retirement System of Texas acquired a new stake in Flexion Therapeutics during the fourth quarter worth about $245,000. Finally, Voya Investment Management LLC increased its position in Flexion Therapeutics by 25.8% during the second quarter. Voya Investment Management LLC now owns 12,914 shares of the specialty pharmaceutical company’s stock worth $261,000 after purchasing an additional 2,651 shares during the last quarter. Hedge funds and other institutional investors own 94.71% of the company’s stock.
Shares of Flexion Therapeutics (NASDAQ FLXN) opened at $25.97 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 12.96 and a current ratio of 13.02. Flexion Therapeutics has a 12-month low of $16.51 and a 12-month high of $32.25.
Flexion Therapeutics Company Profile
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.
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