Flexion Therapeutics (NASDAQ:FLXN) Updates FY 2021 Earnings Guidance

Flexion Therapeutics (NASDAQ:FLXN) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $120 million-$130 million, compared to the consensus revenue estimate of $137.42 million.

Shares of FLXN traded down $0.44 during midday trading on Tuesday, hitting $7.41. 1,442,481 shares of the company traded hands, compared to its average volume of 879,391. The firm has a 50 day moving average of $9.07 and a 200-day moving average of $11.12. Flexion Therapeutics has a 52 week low of $7.19 and a 52 week high of $14.39. The stock has a market cap of $370.07 million, a price-to-earnings ratio of -2.34 and a beta of 1.64. The company has a debt-to-equity ratio of 12.77, a quick ratio of 4.31 and a current ratio of 4.66.

Flexion Therapeutics (NASDAQ:FLXN) last released its quarterly earnings data on Tuesday, March 9th. The specialty pharmaceutical company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.07. The company had revenue of $26.31 million for the quarter, compared to the consensus estimate of $26.60 million. Sell-side analysts predict that Flexion Therapeutics will post -2.6 earnings per share for the current fiscal year.

A number of brokerages recently commented on FLXN. Royal Bank of Canada reaffirmed a buy rating on shares of Flexion Therapeutics in a report on Sunday, April 18th. Raymond James decreased their price objective on shares of Flexion Therapeutics from $18.00 to $16.00 and set a strong-buy rating for the company in a research note on Tuesday, April 20th. Zacks Investment Research raised shares of Flexion Therapeutics from a sell rating to a hold rating in a research note on Tuesday, March 16th. Credit Suisse Group decreased their price objective on shares of Flexion Therapeutics from $18.00 to $17.00 and set an outperform rating for the company in a research note on Tuesday, April 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Flexion Therapeutics from $16.00 to $15.00 and set an overweight rating for the company in a research note on Wednesday, January 27th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Flexion Therapeutics currently has a consensus rating of Buy and an average target price of $19.75.

About Flexion Therapeutics

Flexion Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for the treatment of patients with musculoskeletal conditions in the United States. The company offers ZILRETTA, an intra-articular injection for the management of osteoarthritis (OA) knee pain.

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