Northland Capital Markets Remains Bullish on Flexion Therapeutics (FLXN) After Being Granted Fast Track Status by FDA

Northland Capital Markets reiterated an Outperform rating and $40.00 price target on Flexion Therapeutics (NASDAQ: FLXN) as the company has been granted fast track status by the FDA for FX006. This reduces the NDA review time to approval to within 6 months versus the standard 10 months.

Analyst Mark Landy commented, "Yesterday FLXN announced that it has been granted fast track status by the FDA for FX006 for the treatment of osteoarthritis of the knee. This reduces the NDA review time to approval to within 6 months versus the standard 10 months. Guidance for NDA filing is 2H16. We think 3Q16 is likely which would set up a 1Q17 FDA approval. We now anticipate FDA approval in 1Q17 versus our prior 3Q17 estimate. The acceleration in approval time is mostly due to the 4 month reduction in review time."

For an analyst ratings summary and ratings history on Flexion Therapeutics click here. For more ratings news on Flexion Therapeutics click here.

Shares of Flexion Therapeutics closed at $24.56 yesterday.

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