Analysts at Roth Capital assumed coverage on shares of Flex Pharma, Inc. (NASDAQ:FLKS) in a report released on Thursday. The brokerage set a “buy” rating and a $14.00 price target on the biotechnology company’s stock. Roth Capital’s price objective would indicate a potential upside of 320.42% from the company’s previous close.

Separately, Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Flex Pharma currently has an average rating of “Buy” and a consensus target price of $15.17.

Shares of Flex Pharma (NASDAQ FLKS) traded down 1.19% on Thursday, hitting $3.33. The company had a trading volume of 52,436 shares. The firm has a 50-day moving average price of $3.72 and a 200 day moving average price of $3.79. The company’s market capitalization is $57.56 million. Flex Pharma has a 12-month low of $3.01 and a 12-month high of $12.07.

Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million during 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%. Equities analysts expect that Flex Pharma will post ($2.42) EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP grew its holdings 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 acquiring an additional 174,000 shares in the last quarter. Primecap Management Co. CA grew its holdings in Flex Pharma by 36.0% during 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 purchasing an additional 390,200 shares during the period. Bank of New York Mellon Corp grew its holdings in Flex Pharma by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 42,053 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 487 shares during the period. Spark Investment Management LLC bought a new position in Flex Pharma during the first quarter valued at $223,000. Finally, Ameriprise Financial Inc. grew its holdings in Flex Pharma by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after purchasing an additional 268,505 shares during the period. 27.74% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Flex Pharma (NASDAQ:FLKS)

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