Flex Pharma Inc. (FLKS) Lowered to “Hold” at Cantor Fitzgerald
Flex Pharma Inc. (NASDAQ:FLKS) was downgraded by Cantor Fitzgerald from a “buy” rating to a “hold” rating in a report released on Friday.
Several other equities research analysts have also recently issued reports on FLKS. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $25.00 price objective on shares of Flex Pharma in a research report on Thursday, August 4th. Zacks Investment Research cut shares of Flex Pharma from a “hold” rating to a “sell” rating in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $20.65.
Shares of Flex Pharma (NASDAQ:FLKS) opened at 8.43 on Friday. Flex Pharma has a 12 month low of $6.48 and a 12 month high of $13.97. The firm’s market capitalization is $132.91 million. The firm’s 50-day moving average price is $11.29 and its 200 day moving average price is $11.38.
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Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.04. The firm had revenue of $12.69 million for the quarter. Analysts anticipate that Flex Pharma will post ($2.67) earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of Flex Pharma by 34.2% in the second quarter. BlackRock Fund Advisors now owns 502,242 shares of the biotechnology company’s stock worth $5,128,000 after buying an additional 128,078 shares during the period. BlackRock Investment Management LLC boosted its stake in shares of Flex Pharma by 93.0% in the second quarter. BlackRock Investment Management LLC now owns 40,539 shares of the biotechnology company’s stock worth $414,000 after buying an additional 19,539 shares during the period. BlackRock Advisors LLC boosted its stake in shares of Flex Pharma by 2.7% in the second quarter. BlackRock Advisors LLC now owns 21,983 shares of the biotechnology company’s stock worth $224,000 after buying an additional 588 shares during the period. Vanguard Group Inc. boosted its stake in shares of Flex Pharma by 12.9% in the second quarter. Vanguard Group Inc. now owns 343,861 shares of the biotechnology company’s stock worth $3,511,000 after buying an additional 39,243 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Flex Pharma by 10.3% in the second quarter. Ameriprise Financial Inc. now owns 922,139 shares of the biotechnology company’s stock worth $9,434,000 after buying an additional 85,837 shares during the period. 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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