Flexion Therapeutics (FLXN) NDR Takeaways - Needham & Company

Needham & Company analyst Serge Belanger reiterated a Buy rating and $18.00 price target on Flexion Therapeutics (NASDAQ: FLXN) after hosting management for a series of investor meetings.

The analyst stated "The impact of the Delta Covid variant flareup varies widely across geographies but has yet to reach a level where FLXN would step away from its 2021 Zilretta sales guidance of $120MM-$130MM. The initial trials of both FX201 and FX301 are expected readout by YE2021 and should provide the info necessary to decide on the next development steps. An update on the ongoing cost-optimization work is expected in the coming months (most likely during 3Q21 earnings update) and could potentially set FLXN to reach profitability as soon as 2022/2023. We believe FLXN's current valuation fails to adequately capture Zilretta's current sales levels (annualizing at ~$113MM) or its long-term sales potential, and is being held back by financing/cost-structure concerns that we expect will be addressed
shortly."

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 $6.07 yesterday.

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