Cantor Fitzgerald Weighs in on Flex Pharma, Inc.’s FY2017 Earnings (NASDAQ:FLKS)
Flex Pharma, Inc. (NASDAQ:FLKS) – Stock analysts at Cantor Fitzgerald lifted their FY2017 EPS estimates for shares of Flex Pharma in a report issued on Tuesday. Cantor Fitzgerald analyst M. Goldstein now expects that the biotechnology company will post earnings of ($2.15) per share for the year, up from their prior estimate of ($2.18). Cantor Fitzgerald also issued estimates for Flex Pharma’s FY2018 earnings at ($1.96) EPS.
A number of other brokerages have also recently commented on FLKS. Jefferies Group LLC reduced their price objective on Flex Pharma from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 4th. Zacks Investment Research cut Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $15.40.
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Flex Pharma (NASDAQ FLKS) opened at 3.35 on Thursday. The firm’s market cap is $57.38 million. Flex Pharma has a 1-year low of $3.01 and a 1-year high of $12.68. The company’s 50-day moving average price is $3.90 and its 200 day moving average price is $3.93.
Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. Flex Pharma had a negative return on equity of 64.15% and a negative net margin of 2,410.97%. The firm had revenue of $0.34 million for the quarter, compared to analyst estimates of $0.46 million.
Several hedge funds and other institutional investors have recently modified their holdings of FLKS. Primecap Management Co. CA boosted its position 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 worth $6,480,000 after buying an additional 390,200 shares in the last quarter. Royce & Associates LP boosted its position in shares of Flex Pharma by 29.0% in the second quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock worth $1,203,000 after buying an additional 70,210 shares in the last quarter. C WorldWide Group Holding A S boosted its position 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 worth $1,223,000 after buying an additional 28,060 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of Flex Pharma during the first quarter worth approximately $223,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 in the last quarter. Institutional investors own 29.17% 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.
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