Flex Pharma, Inc. (FLKS) Receives Consensus Rating of “Buy” from Analysts
Shares of Flex Pharma, Inc. (NASDAQ:FLKS) have received a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.80.
FLKS has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. Roth Capital initiated coverage on Flex Pharma in a research note on Thursday, September 7th. They issued a “buy” rating and a $14.00 price objective on the stock.
Shares of Flex Pharma (FLKS) traded up 1.17% during mid-day trading on Friday, hitting $3.47. The stock had a trading volume of 12,474 shares. The stock’s 50-day moving average is $3.47 and its 200-day moving average is $3.76. Flex Pharma has a 1-year low of $3.28 and a 1-year high of $12.07. The firm’s market capitalization is $59.98 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.12. The company had revenue of $0.34 million for the quarter, compared to analyst estimates 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 ($2.34) earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Royce & Associates LP lifted 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 valued at $1,066,000 after buying an additional 174,000 shares during the period. Primecap Management Co. CA lifted its stake 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 valued at $6,480,000 after buying an additional 390,200 shares during the period. Bank of New York Mellon Corp lifted 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 valued at $185,000 after buying an additional 487 shares during the period. Spark Investment Management LLC acquired a new position in Flex Pharma in the first quarter valued at approximately $223,000. Finally, Ameriprise Financial Inc. lifted its stake in Flex Pharma by 69.5% in the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock valued at $2,520,000 after buying an additional 268,505 shares during the period. 27.74% of the stock is currently owned by hedge funds and other institutional investors.
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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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