Jefferies Group Comments on Flex Pharma, Inc.’s FY2017 Earnings (NASDAQ:FLKS)
Flex Pharma, Inc. (NASDAQ:FLKS) – Analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Flex Pharma in a note issued to investors on Wednesday. Jefferies Group analyst M. Andrews now expects that the biotechnology company will post earnings per share of ($2.20) for the year, down from their prior forecast of ($2.13). Jefferies Group currently has a “Buy” rating and a $8.00 target price on the stock. Jefferies Group also issued estimates for Flex Pharma’s FY2018 earnings at ($1.37) EPS, FY2019 earnings at ($1.54) EPS, FY2020 earnings at ($1.12) EPS and FY2021 earnings at ($0.57) EPS.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $0.46 million. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%.
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Separately, Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Flex Pharma presently has a consensus rating of “Buy” and a consensus target price of $15.40.
Flex Pharma (FLKS) opened at 3.92 on Monday. The firm’s 50-day moving average price is $3.89 and its 200 day moving average price is $3.96. Flex Pharma has a 52-week low of $3.01 and a 52-week high of $12.68. The company’s market cap is $67.15 million.
Several hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA raised its stake in shares of 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 valued at $6,480,000 after buying an additional 390,200 shares during the last quarter. Royce & Associates LP raised its stake in shares of Flex Pharma by 255.1% in the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock valued at $1,066,000 after buying an additional 174,000 shares during the last quarter. Spark Investment Management LLC purchased a new stake in shares of Flex Pharma during the first quarter valued at about $223,000. C WorldWide Group Holding A S raised its stake in shares of 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 valued at $1,223,000 after buying an additional 28,060 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Flex Pharma during the second quarter valued at about $104,000. Hedge funds and other institutional investors own 29.17% of the company’s stock.
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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