Flexion Therapeutics (FLXN) stock was down by only 5% despite the company was affected by the pandemic over the past year. In fact, the company has made important progress across all areas of the business in 2020.
Flexion is a biopharmaceutical company focused on the development and commercialization of novel, local therapies for the treatment of patients with musculoskeletal conditions. FX201 and FX301 are the company's two drugs currently in early-stage clinical trials for osteoarthritis and post-operative pain, respectively, are both expected to hit key milestones this year and to share clinical data before year end.
Moreover, Zilretta is indicated as an intra-articular injection, in October, 2017, was approved by the U.S. FDA as the first and only extended-release intra-articular therapy for patients confronting osteoarthritis-related knee pain. The drug contributed a net sales of $85.6 million for the company in 2020. At the same time, the company also strengthened the commercialization of Zilretta, including the cooperation with the National Basketball Retired Players Association and Chinese companies.
Wall Street analyst Carl Byrnes gave a buy rating on the stock and assigned a price target of $35.00, which is 321% upside potential. Byrnes says the recent weakness has created a unique buying opportunity and anticipates Zilretta to exhibit stellar growth in 2021 and beyond.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.