$470,000.00 in Sales Expected for Flex Pharma, Inc. (FLKS) This Quarter
Equities research analysts expect Flex Pharma, Inc. (NASDAQ:FLKS) to report $470,000.00 in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Flex Pharma’s earnings. The highest sales estimate is $600,000.00 and the lowest is $390,000.00. Flex Pharma reported sales of $600,000.00 during the same quarter last year, which would suggest a negative year-over-year growth rate of 21.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Flex Pharma will report full-year sales of $470,000.00 for the current year, with estimates ranging from $1.32 million to $1.60 million. For the next financial year, analysts forecast that the company will post sales of $4.29 million per share, with estimates ranging from $1.43 million to $6.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Flex Pharma.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.51) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.12. The firm had revenue of $0.34 million during 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%.
FLKS has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Flex Pharma from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Roth Capital initiated coverage on Flex Pharma in a report on Thursday, September 7th. They set a “buy” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $10.00 price target on shares of Flex Pharma in a report on Monday, September 25th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.55.
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Flex Pharma (FLKS) opened at 3.34 on Friday. The company has a 50-day moving average price of $3.42 and a 200 day moving average price of $3.42. Flex Pharma has a 52-week low of $3.15 and a 52-week high of $7.55. The stock’s market cap is $57.73 million.
Institutional investors have recently modified their holdings of the stock. LMR Partners LLP bought a new stake in Flex Pharma during the second quarter worth $104,000. Bank of New York Mellon Corp lifted 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 worth $185,000 after acquiring an additional 487 shares during the period. Royce & Associates LP lifted its holdings 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 acquiring an additional 174,000 shares during the period. Finally, Ameriprise Financial Inc. lifted 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 worth $2,520,000 after acquiring an additional 268,505 shares during the period. Institutional investors and hedge funds own 27.74% 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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