Flex Pharma, Inc. (FLKS) Given Average Rating of “Buy” by Analysts
Flex Pharma, Inc. (NASDAQ:FLKS) has been given an average rating of “Buy” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.80.
Several research firms have recently weighed in on FLKS. Zacks Investment Research downgraded shares of Flex Pharma from a “buy” rating to a “hold” rating in a research note on Tuesday. Cantor Fitzgerald reissued a “hold” rating and issued a $10.00 price target on shares of Flex Pharma in a research note on Monday, September 25th. Finally, Roth Capital started coverage on shares of Flex Pharma in a research note on Thursday, September 7th. They issued a “buy” rating and a $14.00 price target on the stock.
A number of hedge funds have recently modified their holdings of FLKS. LMR Partners LLP purchased a new position in Flex Pharma during the second quarter worth about $104,000. Bank of New York Mellon Corp raised its stake 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 worth $185,000 after purchasing an additional 487 shares during the period. Spark Investment Management LLC purchased a new position in Flex Pharma during the first quarter worth about $223,000. Royce & Associates LP raised its stake in Flex Pharma by 255.1% during the first quarter. Royce & Associates LP now owns 242,200 shares of the biotechnology company’s stock worth $1,066,000 after purchasing an additional 174,000 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Flex Pharma by 69.5% during the second quarter. Ameriprise Financial Inc. now owns 654,825 shares of the biotechnology company’s stock worth $2,520,000 after purchasing an additional 268,505 shares during the period. 27.74% of the stock is currently owned by institutional investors.
Shares of Flex Pharma (NASDAQ:FLKS) traded down 0.30% during trading on Wednesday, reaching $3.37. 6,799 shares of the company traded hands. The stock’s market capitalization is $60.57 million. The firm has a 50 day moving average of $3.43 and a 200 day moving average of $3.43. Flex Pharma has a 52 week low of $3.01 and a 52 week high of $11.67.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.46 million. Flex Pharma had a negative net margin of 2,410.97% and a negative return on equity of 64.15%. On average, equities analysts predict that Flex Pharma will post ($2.34) EPS for the current year.
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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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