Zacks: Analysts Anticipate Flexion Therapeutics, Inc. (FLXN) Will Announce Earnings of -$0.95 Per Share
Wall Street analysts expect Flexion Therapeutics, Inc. (NASDAQ:FLXN) to announce earnings per share (EPS) of ($0.95) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Flexion Therapeutics’ earnings, with the lowest EPS estimate coming in at ($1.02) and the highest estimate coming in at ($0.90). Flexion Therapeutics reported earnings per share of ($0.65) during the same quarter last year, which suggests a negative year-over-year growth rate of 46.2%. The business is expected to issue its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Flexion Therapeutics will report full-year earnings of ($3.80) per share for the current fiscal year, with EPS estimates ranging from ($4.26) to ($3.44). For the next fiscal year, analysts forecast that the firm will report earnings of ($3.20) per share, with EPS estimates ranging from ($3.46) to ($3.05). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Flexion Therapeutics.
Flexion Therapeutics (NASDAQ:FLXN) last posted its quarterly earnings data on Tuesday, August 8th. The specialty pharmaceutical company reported ($0.91) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.80) by ($0.11).
Several brokerages have recently commented on FLXN. Northland Securities restated a “buy” rating and issued a $40.00 price objective on shares of Flexion Therapeutics in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $36.00 target price on shares of Flexion Therapeutics in a research note on Sunday, September 17th. Royal Bank Of Canada set a $44.00 price target on Flexion Therapeutics and gave the stock a “buy” rating in a report on Monday, September 11th. ValuEngine upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Flexion Therapeutics presently has an average rating of “Buy” and a consensus target price of $31.50.
In other Flexion Therapeutics news, insider Yamo Deniz purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average price of $24.15 per share, with a total value of $72,450.00. Following the completion of the purchase, the insider now directly owns 5,000 shares in the company, valued at $120,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 5,375 shares of company stock worth $131,575 in the last 90 days. 15.98% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Flexion Therapeutics by 27.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,716,189 shares of the specialty pharmaceutical company’s stock worth $54,921,000 after buying an additional 591,981 shares during the last quarter. State Street Corp lifted its holdings in shares of Flexion Therapeutics by 66.3% in the 2nd quarter. State Street Corp now owns 1,379,202 shares of the specialty pharmaceutical company’s stock valued at $27,888,000 after acquiring an additional 549,948 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Flexion Therapeutics by 58.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,018,219 shares of the specialty pharmaceutical company’s stock valued at $20,588,000 after acquiring an additional 376,745 shares during the last quarter. Nexthera Capital LP bought a new position in shares of Flexion Therapeutics in the 2nd quarter valued at about $4,661,000. Finally, Pictet Asset Management Ltd. lifted its holdings in shares of Flexion Therapeutics by 73.7% in the 2nd quarter. Pictet Asset Management Ltd. now owns 472,796 shares of the specialty pharmaceutical company’s stock valued at $8,080,000 after acquiring an additional 200,657 shares during the last quarter. 83.26% of the stock is owned by institutional investors and hedge funds.
Flexion Therapeutics (NASDAQ:FLXN) traded up 3.32% during mid-day trading on Wednesday, hitting $27.37. The company’s stock had a trading volume of 804,052 shares. The stock’s market cap is $873.24 million. The company’s 50 day moving average is $24.20 and its 200-day moving average is $22.44. Flexion Therapeutics has a 52-week low of $15.93 and a 52-week high of $29.41.
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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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