Flexion Therapeutics (FLXN) Received its Third Buy in a Row
After RBC Capital and Needham gave Flexion Therapeutics (NASDAQ: FLXN) a Buy rating last month, the company received another Buy, this time from BMO Capital. Analyst Gary Nachman maintained a Buy rating on Flexion Therapeutics today and set a price target of $22.00. The company’s shares closed last Thursday at $11.97.
According to TipRanks.com, Nachman is a 1-star analyst with an average return of -0.2% and a 45.8% success rate. Nachman covers the Healthcare sector, focusing on stocks such as Pacira Pharmaceuticals, Aquestive Therapeutics, and Horizon Therapeutics.
Flexion Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $21.22, a 63.6% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a $18.00 price target.
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Based on Flexion Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $15.45 million and GAAP net loss of $32.62 million. In comparison, last year the company earned revenue of $16.95 million and had a GAAP net loss of $36.49 million.
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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.