Flex Pharma Inc (NASDAQ:FLKS) – Analysts at Jefferies Group decreased their FY2018 earnings per share (EPS) estimates for Flex Pharma in a research report issued on Tuesday. Jefferies Group analyst M. Andrews now anticipates that the biotechnology company will post earnings of ($1.68) per share for the year, down from their previous estimate of ($1.42). Jefferies Group also issued estimates for Flex Pharma’s FY2019 earnings at ($1.39) EPS, FY2020 earnings at ($1.23) EPS and FY2021 earnings at ($0.70) EPS.
Several other equities research analysts have also recently weighed in on FLKS. Zacks Investment Research raised Flex Pharma from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research report on Friday, December 1st. Ladenburg Thalmann Financial Services assumed coverage on Flex Pharma in a research report on Thursday, January 25th. They issued a “buy” rating and a $12.00 price objective for the company. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $10.00 target price on shares of Flex Pharma in a research report on Wednesday, January 17th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of Flex Pharma in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.79.
Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its position in Flex Pharma by 69.5% in 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. Sphera Funds Management LTD. bought a new position in Flex Pharma in the third quarter worth $2,341,000. Granite Point Capital Management L.P. lifted its position in Flex Pharma by 80.8% in the fourth quarter. Granite Point Capital Management L.P. now owns 71,520 shares of the biotechnology company’s stock worth $250,000 after purchasing an additional 31,961 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Flex Pharma by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock worth $314,000 after purchasing an additional 36,100 shares during the period. 27.26% of the stock is owned by hedge funds and other 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.
Receive News & Ratings for Flex Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flex Pharma and related companies with MarketBeat.com's FREE daily email newsletter.