Flexion Therapeutics (FLXN) Received its Third Buy in a Row


After Needham and BMO Capital gave Flexion Therapeutics (NASDAQ: FLXN) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Carl Byrnes maintained a Buy rating on Flexion Therapeutics today and set a price target of $35.00. The company’s shares closed last Wednesday at $12.63.

According to TipRanks.com, Byrnes is ranked 0 out of 5 stars with an average return of -9.4% and a 35.3% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Adamas Pharmaceuticals, Opiant Pharmaceuticals, and Aridis Pharmaceuticals.

Currently, the analyst consensus on Flexion Therapeutics is a Strong Buy with an average price target of $22.63, which is a 65.7% upside from current levels. In a report issued on July 29, Credit Suisse also initiated coverage with a Buy rating on the stock with a $19.00 price target.

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Based on Flexion Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $20.13 million and GAAP net loss of $36.8 million. In comparison, last year the company earned revenue of $10.56 million and had a GAAP net loss of $41.54 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FLXN in relation to earlier this year. Last month, Alan Milinazzo, a Director at FLXN bought 18,450 shares for a total of $40,406.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Flexion Therapeutics, Inc. operates as a biopharmaceutical company, which engages in the development and commercialization of novel and local therapies. It specializes in the treatment of patients with musculoskeletal conditions including osteoarthritis. It offers products under the Zilretta brand. The company was founded by Michael D. Clayman and Neil Bodick in 2007 and is headquartered in Burlington, MA.

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