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

After Northland Securities and H.C. Wainwright gave Flexion Therapeutics (NASDAQ: FLXN) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Martin Auster maintained a Buy rating on Flexion Therapeutics today and set a price target of $19.00. The company’s shares closed last Monday at $10.87.

According to TipRanks.com, Auster is a 5-star analyst with an average return of 17.4% and a 54.7% success rate. Auster covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Ultragenyx Pharmaceutical, and BioMarin Pharmaceutical.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Flexion Therapeutics with a $22.00 average price target, implying a 91.6% upside from current levels. In a report issued on September 17, H.C. Wainwright also maintained a Buy rating on the stock with a $25.00 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 $16.95 million and had a GAAP net loss of $36.49 million.

Based on the recent corporate insider activity of 38 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. Most recently, in July 2020, 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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