Flexion Therapeutics, Inc. (FLXN) Expected to Announce Earnings of -$0.95 Per Share
Wall Street brokerages forecast that Flexion Therapeutics, Inc. (NASDAQ:FLXN) will announce earnings per share (EPS) of ($0.95) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Flexion Therapeutics’ earnings. The lowest EPS estimate is ($1.02) and the highest is ($0.90). Flexion Therapeutics posted earnings of ($0.65) per share during the same quarter last year, which would indicate a negative year over year growth rate of 46.2%. The business is expected to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Flexion Therapeutics will report full-year earnings of ($3.85) per share for the current financial year, with EPS estimates ranging from ($4.33) to ($3.57). For the next financial year, analysts anticipate that the firm will report earnings of ($3.32) per share, with EPS estimates ranging from ($3.69) to ($3.05). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms 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 analysts’ consensus estimates of ($0.80) by ($0.11).
Several brokerages have weighed in on FLXN. ValuEngine cut Flexion Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $44.00 target price on shares of Flexion Therapeutics in a report on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and issued a $36.00 target price (up from $34.00) on shares of Flexion Therapeutics in a report on Thursday, August 10th. BMO Capital Markets reiterated a “buy” rating on shares of Flexion Therapeutics in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $88.50.
In related news, insider Yamo Deniz purchased 3,000 shares of Flexion Therapeutics stock in a transaction dated Friday, September 1st. The stock was purchased at an average cost of $24.15 per share, with a total value of $72,450.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at approximately $120,750. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders bought 5,375 shares of company stock valued at $131,575. Corporate insiders own 15.98% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position 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 acquiring an additional 591,981 shares in the last quarter. Capital World Investors raised its position in shares of Flexion Therapeutics by 2.0% in the 2nd quarter. Capital World Investors now owns 2,538,000 shares of the specialty pharmaceutical company’s stock worth $51,318,000 after acquiring an additional 49,000 shares in the last quarter. State Street Corp raised its position 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 worth $27,888,000 after acquiring an additional 549,948 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Flexion Therapeutics by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,054,464 shares of the specialty pharmaceutical company’s stock worth $21,321,000 after acquiring an additional 59,143 shares in the last quarter. Finally, Wasatch Advisors Inc. raised its position 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 worth $20,588,000 after acquiring an additional 376,745 shares in the last quarter. 83.26% of the stock is owned by hedge funds and other institutional investors.
Flexion Therapeutics (FLXN) opened at 23.15 on Monday. Flexion Therapeutics has a 12-month low of $15.93 and a 12-month high of $32.25. The company’s market cap is $738.60 million. The firm has a 50-day moving average price of $25.09 and a 200-day moving average price of $22.54.
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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