Flex Pharma, Inc. (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

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. “

Separately, Jefferies Group LLC cut their target price on shares of Flex Pharma from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $15.40.

Shares of Flex Pharma (NASDAQ FLKS) traded down 4.08% during midday trading on Monday, hitting $3.76. The company’s stock had a trading volume of 59,029 shares. The company has a 50-day moving average price of $3.89 and a 200 day moving average price of $3.96. The company’s market cap is $64.41 million. Flex Pharma has a 1-year low of $3.01 and a 1-year high of $12.68.

Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.12. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. The business had revenue of $0.34 million during the quarter, compared to the consensus estimate of $0.46 million. On average, equities research analysts predict that Flex Pharma will post ($2.42) EPS for the current year.

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Large investors have recently bought and sold shares of the company. LMR Partners LLP bought a new stake in Flex Pharma during the second quarter worth approximately $104,000. Bank of New York Mellon Corp increased its stake in Flex Pharma by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock worth $185,000 after buying an additional 487 shares during the period. Spark Investment Management LLC bought a new stake in Flex Pharma during the first quarter worth approximately $223,000. Royce & Associates LP increased its stake 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 period. Finally, C WorldWide Group Holding A S increased its stake 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 period. 29.17% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

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