Flex Pharma (FLKS) Stock Rating Lowered by LADENBURG THALM/SH SH

Flex Pharma (NASDAQ:FLKS) was downgraded by LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, The Fly reports.

Several other equities research analysts have also weighed in on the company. ValuEngine raised Flex Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered Flex Pharma from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Flex Pharma in a research note on Thursday, May 3rd. Finally, Cantor Fitzgerald set a $6.00 price objective on Flex Pharma and gave the stock a “hold” rating in a research note on Tuesday, March 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Flex Pharma currently has an average rating of “Hold” and an average target price of $15.20.

Shares of FLKS traded down $2.80 during trading hours on Wednesday, hitting $1.38. 4,628 shares of the company were exchanged, compared to its average volume of 36,093. The firm has a market cap of $75.48 million, a PE ratio of -0.69 and a beta of 2.87. Flex Pharma has a one year low of $2.68 and a one year high of $8.98.

Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings data on Wednesday, May 2nd. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.04. The business had revenue of $0.18 million during the quarter, compared to analyst estimates of $0.30 million. Flex Pharma had a negative return on equity of 104.48% and a negative net margin of 2,842.07%. equities research analysts expect that Flex Pharma will post -1.7 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Flex Pharma by 75.9% in the first quarter. Millennium Management LLC now owns 60,126 shares of the biotechnology company’s stock valued at $301,000 after purchasing an additional 25,941 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Flex Pharma by 10,889.2% in the first quarter. JPMorgan Chase & Co. now owns 37,583 shares of the biotechnology company’s stock valued at $188,000 after purchasing an additional 37,241 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Flex Pharma by 67.1% in the fourth quarter. Renaissance Technologies LLC now owns 89,900 shares of the biotechnology company’s stock valued at $314,000 after purchasing an additional 36,100 shares in the last quarter. Sphera Funds Management LTD. lifted its holdings in shares of Flex Pharma by 70.7% in the fourth quarter. Sphera Funds Management LTD. now owns 241,211 shares of the biotechnology company’s stock valued at $4,339,000 after purchasing an additional 99,911 shares in the last quarter. Finally, Granite Point Capital Management L.P. lifted its holdings in shares of 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 valued at $250,000 after purchasing an additional 31,961 shares in the last quarter. Institutional investors own 27.80% of the company’s stock.

Flex Pharma Company Profile

Flex Pharma, Inc, a biotechnology company, develops and commercializes products for the treatment of muscle cramps, spasms, and spasticity associated with neurological conditions and exercise in the United States. It operates in two segments, Consumer Operations and Drug Development. The company's lead drug candidate is FLX-787, a single molecule, chemically synthesized, and dual transient receptor potential V1/A1 ion channel activator, which is in exploratory Phase 2 clinical trial in Australia for the treatment of patients with multiple sclerosis; and two Phase 2 clinical trials in the United States for the treatment of patients with motor neuron disease in amyotrophic lateral sclerosis.

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