Analysts Anticipate Flexion Therapeutics, Inc. (NASDAQ:FLXN) to Post -$0.50 Earnings Per Share

Wall Street brokerages expect that Flexion Therapeutics, Inc. (NASDAQ:FLXN) will post earnings of ($0.50) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Flexion Therapeutics’ earnings. The highest EPS estimate is ($0.49) and the lowest is ($0.51). Flexion Therapeutics reported earnings of ($0.76) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.2%. The company is expected to announce its next earnings results on Wednesday, August 4th.

On average, analysts expect that Flexion Therapeutics will report full year earnings of ($1.96) per share for the current fiscal year, with EPS estimates ranging from ($2.08) to ($1.77). For the next year, analysts expect that the company will post earnings of ($0.93) per share, with EPS estimates ranging from ($1.33) to ($0.32). Zacks Investment Research’s EPS 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 Wednesday, May 12th. The specialty pharmaceutical company reported ($0.57) earnings per share (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 analysts’ expectations of $24.61 million.

A number of equities analysts recently commented on FLXN shares. Credit Suisse Group reduced their price objective on shares of Flexion Therapeutics from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, May 13th. HC Wainwright restated a “buy” rating on shares of Flexion Therapeutics in a research note on Wednesday, April 14th. Royal Bank of Canada restated a “buy” rating on shares of Flexion Therapeutics in a research note on Sunday, April 18th. Zacks Investment Research upgraded shares of Flexion Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, July 16th. Finally, Raymond James decreased their price target on Flexion Therapeutics from $18.00 to $16.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 14th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.56.

FLXN stock traded down $0.36 during mid-day trading on Thursday, reaching $6.62. The company had a trading volume of 14,385 shares, compared to its average volume of 592,548. The business has a 50 day moving average of $8.29. The stock has a market cap of $330.60 million, a P/E 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.

In other news, insider Christina Willwerth sold 3,945 shares of the firm’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $6.45, for a total transaction of $25,445.25. Following the transaction, the insider now directly owns 133,486 shares in the company, valued at $860,984.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.13% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Flexion Therapeutics by 4.1% in the first quarter. BlackRock Inc. now owns 4,516,116 shares of the specialty pharmaceutical company’s stock valued at $40,419,000 after purchasing an additional 176,792 shares during the period. Wasatch Advisors Inc. increased its position in Flexion Therapeutics by 2.5% during the first quarter. Wasatch Advisors Inc. now owns 4,211,446 shares of the specialty pharmaceutical company’s stock worth $37,693,000 after purchasing an additional 101,952 shares during the last quarter. Artisan Partners Limited Partnership raised its position in shares of Flexion Therapeutics by 2.2% in the 1st quarter. Artisan Partners Limited Partnership now owns 3,144,016 shares of the specialty pharmaceutical company’s stock worth $28,139,000 after buying an additional 67,987 shares during the period. Orbimed Advisors LLC raised its holdings in shares of Flexion Therapeutics by 37.1% in the 4th quarter. Orbimed Advisors LLC now owns 2,308,083 shares of the specialty pharmaceutical company’s stock worth $26,635,000 after purchasing an additional 624,083 shares during the period. Finally, Clearline Capital LP purchased a new position in Flexion Therapeutics in the first quarter valued at approximately $12,560,000. Institutional investors own 93.98% of the company’s stock.

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.

Featured Article: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Get a free copy of the Zacks research report on Flexion Therapeutics (FLXN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Flexion Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexion Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.