Flex Pharma, Inc. (FLKS) Expected to Announce Quarterly Sales of $460,000.00
Brokerages expect Flex Pharma, Inc. (NASDAQ:FLKS) to report sales of $460,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Flex Pharma’s earnings, with the highest sales estimate coming in at $500,000.00 and the lowest estimate coming in at $410,000.00. Flex Pharma reported sales of $110,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 318.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, August 2nd.
On average, analysts expect that Flex Pharma will report full-year sales of $460,000.00 for the current year, with estimates ranging from $1.37 million to $2.00 million. For the next fiscal year, analysts forecast that the business will post sales of $5.72 million per share, with estimates ranging from $5.43 million to $6.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.62) by $0.13. The business had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.38 million. Flex Pharma had a negative net margin of 3,043.70% and a negative return on equity of 60.50%.
Several research firms have recently weighed in on FLKS. Jefferies Group LLC dropped their price target on shares of Flex Pharma from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Piper Jaffray Companies set a $12.00 price target on shares of Flex Pharma and gave the company a “buy” rating in a research note on Wednesday, March 8th. Finally, Zacks Investment Research cut shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Flex Pharma has a consensus rating of “Buy” and an average target price of $15.40.
Several institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA boosted its position in Flex Pharma by 36.0% in the first quarter. Primecap Management Co. CA now owns 1,472,800 shares of the biotechnology company’s stock worth $6,480,000 after buying an additional 390,200 shares during the last quarter. Royce & Associates LP boosted its position in Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock worth $1,066,000 after buying an additional 174,000 shares during the last quarter. Spark Investment Management LLC bought a new position in Flex Pharma during the first quarter worth $223,000. C WorldWide Group Holding A S boosted its position in Flex Pharma by 11.2% in the first quarter. C WorldWide Group Holding A S now owns 278,060 shares of the biotechnology company’s stock worth $1,223,000 after buying an additional 28,060 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Flex Pharma by 1.7% in the first quarter. Vanguard Group Inc. now owns 317,235 shares of the biotechnology company’s stock worth $1,396,000 after buying an additional 5,154 shares during the last quarter. 29.50% of the stock is owned by hedge funds and other institutional investors.
Shares of Flex Pharma (FLKS) traded up 2.70% during mid-day trading on Friday, reaching $4.57. 1,049,937 shares of the company’s stock traded hands. The stock’s market capitalization is $77.82 million. The company’s 50-day moving average price is $3.48 and its 200-day moving average price is $4.31. Flex Pharma has a 12-month low of $3.01 and a 12-month high of $12.76.
About Flex Pharma
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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