Flexion Therapeutics (FLXN) Received its Third Buy in a Row

After BMO Capital and RBC Capital gave Flexion Therapeutics (NASDAQ: FLXN) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Serge Belanger maintained a Buy rating on Flexion Therapeutics today and set a price target of $20.00. The company’s shares closed last Wednesday at $12.63.

According to TipRanks.com, Belanger is a 3-star analyst with an average return of 2.6% and a 40.9% 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 $22.63, a 65.7% upside from current levels. In a report issued on July 29, Credit Suisse also initiated coverage with a Buy rating on the stock with a $19.00 price target.

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Based on Flexion Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $20.13 million and GAAP net loss of $36.8 million. In comparison, last year the company earned revenue of $10.56 million and had a GAAP net loss of $41.54 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FLXN in relation to earlier this year. Last month, Alan Milinazzo, a Director at FLXN bought 18,450 shares for a total of $40,406.

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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.