Flexion Therapeutics, Inc. (NASDAQ:FLXN) Expected to Announce Quarterly Sales of $28.02 Million

Brokerages predict that Flexion Therapeutics, Inc. (NASDAQ:FLXN) will post $28.02 million in sales for the current quarter, Zacks 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 in the same quarter last year, which indicates a positive year over year growth rate of 81.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Flexion Therapeutics will report full-year sales of $124.75 million for the current financial year, with estimates ranging from $121.56 million to $130.00 million. For the next financial year, analysts forecast that the firm will report sales of $191.27 million, with estimates ranging from $175.00 million to $220.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Flexion Therapeutics.

Flexion Therapeutics (NASDAQ:FLXN) last announced its quarterly earnings results 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 firm had revenue of $24.59 million during the quarter, compared to analyst estimates of $24.61 million.

FLXN has been the topic of several research analyst reports. Raymond James reduced their price target on shares of Flexion Therapeutics from $18.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, April 14th. Credit Suisse Group reduced their price target on shares of Flexion Therapeutics from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Thursday, May 13th. HC Wainwright reaffirmed a “buy” rating on shares of Flexion Therapeutics in a research report on Wednesday, April 14th. Zacks Investment Research raised shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, July 16th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Flexion Therapeutics in a report on Sunday, April 18th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Flexion Therapeutics presently has an average rating of “Buy” and an average target price of $19.56.

In other Flexion Therapeutics news, insider Christina Willwerth sold 3,945 shares of the stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $6.45, for a total transaction of $25,445.25. Following the sale, the insider now directly owns 133,486 shares in the company, valued at $860,984.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.13% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Phocas Financial Corp. boosted its stake in shares of Flexion Therapeutics by 50.5% in the 1st quarter. Phocas Financial Corp. now owns 347,114 shares of the specialty pharmaceutical company’s stock valued at $3,107,000 after purchasing an additional 116,490 shares in the last quarter. Squarepoint Ops LLC boosted its position in Flexion Therapeutics by 180.9% during the 1st quarter. Squarepoint Ops LLC now owns 47,623 shares of the specialty pharmaceutical company’s stock worth $426,000 after buying an additional 30,671 shares during the period. Millennium Management LLC boosted its position in Flexion Therapeutics by 66.8% during the 1st quarter. Millennium Management LLC now owns 413,064 shares of the specialty pharmaceutical company’s stock worth $3,697,000 after buying an additional 165,483 shares during the period. Eaton Vance Management boosted its position in Flexion Therapeutics by 24.3% during the 1st quarter. Eaton Vance Management now owns 37,900 shares of the specialty pharmaceutical company’s stock worth $339,000 after buying an additional 7,400 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Flexion Therapeutics by 496.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 97,551 shares of the specialty pharmaceutical company’s stock worth $873,000 after buying an additional 81,207 shares during the period. Institutional investors own 93.98% of the company’s stock.

NASDAQ:FLXN traded down $0.36 on Friday, reaching $6.62. The stock had a trading volume of 14,385 shares, compared to its average volume of 592,548. The stock’s 50-day moving average price is $8.29. The company has a market cap of $330.60 million, a PE ratio of -3.13 and a beta of 1.38. Flexion Therapeutics has a 12-month low of $6.23 and a 12-month high of $14.39.

About Flexion Therapeutics

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.

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