Flexion Therapeutics, Inc. (FLXN) Expected to Announce Earnings of -$1.09 Per Share
Wall Street brokerages expect Flexion Therapeutics, Inc. (NASDAQ:FLXN) to report earnings of ($1.09) per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Flexion Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.19) and the highest estimate coming in at ($0.99). Flexion Therapeutics posted earnings of ($0.78) per share in the same quarter last year, which indicates a negative year over year growth rate of 39.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, March 8th.
According to Zacks, analysts expect that Flexion Therapeutics will report full year earnings of ($3.84) per share for the current financial year, with EPS estimates ranging from ($3.95) to ($3.73). For the next financial year, analysts forecast that the firm will report earnings of ($4.06) per share, with EPS estimates ranging from ($4.62) to ($3.71). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Flexion Therapeutics.
Several equities research analysts have recently issued reports on the company. Needham & Company LLC raised their price target on Flexion Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, October 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $37.00 price target (up from $35.00) on shares of Flexion Therapeutics in a research report on Monday, October 9th. Wells Fargo & Company set a $39.00 price target on Flexion Therapeutics and gave the company a “buy” rating in a research report on Friday, October 6th. Janney Montgomery Scott raised their price target on Flexion Therapeutics to $570.00 and gave the company a “fair value” rating in a research report on Tuesday, October 10th. Finally, Laidlaw reaffirmed a “buy” rating and issued a $38.00 price target (up from $35.00) on shares of Flexion Therapeutics in a research report on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $98.33.
Shares of Flexion Therapeutics (NASDAQ:FLXN) traded down $0.93 during trading hours on Friday, hitting $22.55. The stock had a trading volume of 1,149,900 shares, compared to its average volume of 829,215. Flexion Therapeutics has a 12 month low of $15.96 and a 12 month high of $32.25. The company has a debt-to-equity ratio of 0.87, a quick ratio of 12.93 and a current ratio of 12.93.
In other Flexion Therapeutics news, insider Michael D. Clayman purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average price of $23.60 per share, for a total transaction of $118,000.00. Following the completion of the purchase, the insider now directly owns 35,395 shares in the company, valued at $835,322. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Yamo Deniz purchased 1,375 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were acquired at an average price of $25.40 per share, with a total value of $34,925.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at $127,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 10,375 shares of company stock valued at $249,575. Corporate insiders own 15.98% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Fiduciary Trust Co. bought a new position in Flexion Therapeutics during the second quarter worth about $101,000. IFP Advisors Inc lifted its stake in Flexion Therapeutics by 24.5% during the second quarter. IFP Advisors Inc now owns 5,080 shares of the specialty pharmaceutical company’s stock worth $103,000 after purchasing an additional 1,000 shares during the period. Advisor Group Inc. lifted its stake in Flexion Therapeutics by 205.9% during the second quarter. Advisor Group Inc. now owns 5,200 shares of the specialty pharmaceutical company’s stock worth $105,000 after purchasing an additional 3,500 shares during the period. SG Americas Securities LLC bought a new position in shares of Flexion Therapeutics in the third quarter valued at approximately $135,000. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Flexion Therapeutics in the third quarter valued at approximately $235,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.
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About Flexion Therapeutics
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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