Needham Thinks Flexion Therapeutics’ Stock is Going to Recover
In a report released today, Serge Belanger from Needham maintained a Buy rating on Flexion Therapeutics (FLXN), with a price target of $36.00. The company’s shares closed last Wednesday at $7.86, close to its 52-week low of $5.02.
According to TipRanks.com, Belanger ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.3% and a 31.6% success rate. Belanger covers the Healthcare sector, focusing on stocks such as Amphastar Pharmaceuticals, KalVista Pharmaceuticals, and Collegium Pharmaceutical.
Flexion Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $30.33, representing a 290.9% upside. In a report issued on March 24, RBC Capital also reiterated a Buy rating on the stock with a $20.00 price target.
See today’s analyst top recommended stocks >>
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.
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.