Flex Pharma Inc. (FLKS) Upgraded by Zacks Investment Research to Hold
Flex Pharma Inc. (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Flex Pharma, Inc. is a biotechnology company. The Company is involved in developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. Flex Pharma, Inc. is headquartered in Boston, Massachusetts. “
Several other brokerages have also recently weighed in on FLKS. Piper Jaffray Cos. reaffirmed a “buy” rating and issued a $25.00 target price on shares of Flex Pharma in a report on Thursday, August 4th. Cantor Fitzgerald lowered shares of Flex Pharma from a “buy” rating to a “hold” rating and dropped their price target for the company from $22.00 to $10.00 in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Flex Pharma in a research note on Saturday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Flex Pharma currently has an average rating of “Buy” and an average price target of $21.88.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/18/flex-pharma-inc-flks-upgraded-by-zacks-investment-research-to-hold.html
Flex Pharma (NASDAQ:FLKS) traded up 0.61% during trading on Tuesday, hitting $6.55. 78,782 shares of the company traded hands. The firm’s market cap is $103.27 million. The company’s 50-day moving average is $10.89 and its 200 day moving average is $11.29. Flex Pharma has a 52-week low of $6.45 and a 52-week high of $13.97.
Flex Pharma (NASDAQ:FLKS) last issued its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.04. The company had revenue of $12.69 million for the quarter. On average, equities analysts anticipate that Flex Pharma will post ($2.67) earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Strs Ohio raised its position in shares of Flex Pharma by 444.4% in the second quarter. Strs Ohio now owns 9,800 shares of the biotechnology company’s stock worth $100,000 after buying an additional 8,000 shares during the period. Citadel Advisors LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $104,000. Parametric Portfolio Associates LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $109,000. Acadian Asset Management LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $114,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Flex Pharma during the second quarter worth about $116,000. Institutional investors and hedge funds own 33.74% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Flex Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.