Northland Securities analyst Carl Byrnes initiated coverage with a Buy rating on Flexion Therapeutics (FLXN) today and set a price target of $35.00. The company’s shares closed last Friday at $9.61.
According to TipRanks.com, Byrnes is ranked 0 out of 5 stars with an average return of -21.6% and a 25.9% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Aridis Pharmaceuticals, vTv Therapeutics, and GW Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Flexion Therapeutics with a $30.33 average price target, which is a 215.6% upside from current levels. In a report issued on April 15, Needham also maintained a Buy rating on the stock with a $36.00 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.
