Flex Pharma Inc. (NASDAQ:FLKS) Given Average Recommendation of “Buy” by Brokerages
Shares of Flex Pharma Inc. (NASDAQ:FLKS) have been given an average recommendation of “Buy” by the six brokerages that are covering the firm. One analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.67.
A number of research analysts recently commented on FLKS shares. Jefferies Group reaffirmed a “buy” rating and issued a $25.00 price target on shares of Flex Pharma in a research note on Friday, June 10th. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $25.00 price target on shares of Flex Pharma in a research note on Thursday, August 4th. Finally, Zacks Investment Research downgraded Flex Pharma from a “hold” rating to a “sell” rating in a research note on Friday, August 5th.
Shares of Flex Pharma (NASDAQ:FLKS) traded down 1.12% on Friday, hitting $11.45. 22,830 shares of the stock traded hands. Flex Pharma has a 1-year low of $6.48 and a 1-year high of $13.97. The stock has a 50 day moving average of $11.42 and a 200-day moving average of $11.39. The stock’s market cap is $180.52 million.
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Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by $0.04. The company earned $12.69 million during the quarter. On average, equities research analysts expect that Flex Pharma will post ($2.67) EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio boosted its stake in Flex Pharma by 444.4% in the second quarter. Strs Ohio now owns 9,800 shares of the biotechnology company’s stock valued at $100,000 after buying an additional 8,000 shares during the period. Citadel Advisors LLC purchased a new stake in Flex Pharma during the second quarter valued at $104,000. Parametric Portfolio Associates LLC purchased a new stake in Flex Pharma during the second quarter valued at $109,000. Acadian Asset Management LLC purchased a new stake in Flex Pharma during the second quarter valued at $114,000. Finally, Highbridge Capital Management LLC purchased a new stake in Flex Pharma during the second quarter valued at $116,000. 33.74% of the stock is owned by hedge funds and other institutional investors.
Flex Pharma Company Profile
Flex Pharma, Inc is a biotechnology company. The Company develops treatments for nocturnal leg cramps, muscle cramps and spasms associated with severe neuromuscular conditions, and exercise associated muscle cramps (EAMCs). The Company’s product candidates activate certain receptors in primary sensory neurons, which then act through neuronal circuits to reduce the repetitive firing, or hyperexcitability, of alpha-motor neurons in the spinal cord, thereby preventing or reducing the frequency and intensity of muscle cramps and spasms.
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