Needham Maintains a Buy Rating on Flexion Therapeutics (FLXN)
Needham analyst Serge Belanger maintained a Buy rating on Flexion Therapeutics (FLXN) today and set a price target of $30.00. The company’s shares closed last Wednesday at $10.65.
According to TipRanks.com, Belanger is a 3-star analyst with an average return of 1.6% and a 41.5% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.
Currently, the analyst consensus on Flexion Therapeutics is a Strong Buy with an average price target of $27.75, implying a 164.3% upside from current levels. In a report issued on April 27, Northland Securities also initiated coverage with a Buy rating on the stock with a $35.00 price target.
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Based on Flexion Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $23.65 million and GAAP net loss of $33.52 million. In comparison, last year the company earned revenue of $9.54 million and had a GAAP net loss of $40.58 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.