Flex Pharma (FLKS) Rating Increased to Buy at Zacks Investment Research

Flex Pharma (NASDAQ:FLKS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $4.75 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.64% from the company’s current price.

According to Zacks, “Flex Pharma, Inc. is a biotechnology company. The Company is involved in developing treatments for nocturnal leg cramps and spasms associated with severe neuromuscular conditions. Flex Pharma, Inc. is headquartered in Boston, Massachusetts. “

Other analysts have also issued research reports about the stock. Roth Capital initiated coverage on shares of Flex Pharma in a research report on Thursday, September 7th. They issued a “buy” rating and a $14.00 price target on the stock. Cantor Fitzgerald reissued a “hold” rating and issued a $10.00 price target on shares of Flex Pharma in a research report on Monday, November 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $9.75.

Flex Pharma (NASDAQ FLKS) traded down $0.01 on Friday, reaching $4.18. 16,838 shares of the company’s stock were exchanged, compared to its average volume of 74,912. Flex Pharma has a 52-week low of $2.68 and a 52-week high of $6.49.

Flex Pharma (NASDAQ:FLKS) last released its earnings results on Monday, November 6th. The biotechnology company reported ($0.54) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.06. Flex Pharma had a negative net margin of 2,655.19% and a negative return on equity of 71.39%. The firm had revenue of $0.41 million for the quarter, compared to analysts’ expectations of $0.47 million. equities research analysts anticipate that Flex Pharma will post -2.38 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in shares of 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 purchasing an additional 268,505 shares during the period. Royce & Associates LP increased its holdings in Flex Pharma by 29.0% during the 2nd quarter. Royce & Associates LP now owns 312,410 shares of the biotechnology company’s stock worth $1,203,000 after acquiring an additional 70,210 shares during the period. Bank of New York Mellon Corp increased its holdings in Flex Pharma by 1.2% during the 1st 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. Sphera Funds Management LTD. bought a new stake in Flex Pharma during the 3rd quarter worth approximately $2,341,000. Finally, LMR Partners LLP bought a new stake in Flex Pharma during the 2nd quarter worth approximately $104,000. 27.31% of the stock is currently owned by institutional investors.

WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/12/01/flex-pharma-flks-rating-increased-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Flex Pharma (FLKS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Flex Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply