Flex Pharma Inc. (FLKS) Stock Price Up 2.8%
Flex Pharma Inc. (NASDAQ:FLKS) rose 2.8% during trading on Thursday . The stock traded as high as $11.14 and last traded at $10.79, with a volume of 53,025 shares. The stock had previously closed at $10.50.
Several equities research analysts have issued reports on the stock. Jefferies Group reaffirmed a “buy” rating and set a $25.00 target price on shares of Flex Pharma in a research note on Thursday, March 10th. Zacks Investment Research raised shares of Flex Pharma from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research note on Thursday, March 10th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $25.00 target price on shares of Flex Pharma in a research note on Tuesday, March 15th. Roth Capital reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Monday, April 11th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Wednesday, May 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $23.88.
The stock’s market cap is $173.81 million. The firm’s 50-day moving average is $11.58 and its 200 day moving average is $10.35.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.05. Equities analysts expect that Flex Pharma Inc. will post ($2.56) earnings per share for the current year.
In other Flex Pharma news, CEO Christoph H. Westphal acquired 2,700 shares of the business’s stock in a transaction on Thursday, June 23rd. The stock was purchased at an average price of $11.28 per share, for a total transaction of $30,456.00. Following the completion of the transaction, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at approximately $44,276,797.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christoph H. Westphal acquired 30,217 shares of the business’s stock in a transaction on Thursday, May 12th. The stock was acquired at an average price of $10.12 per share, with a total value of $305,796.04. Following the transaction, the chief executive officer now directly owns 3,925,248 shares of the company’s stock, valued at approximately $39,723,509.76. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Flex Pharma stock. Principal Financial Group Inc. raised its stake in Flex Pharma Inc. (NASDAQ:FLKS) by 69.8% during the fourth quarter, Holdings Channel reports. The fund owned 125,000 shares of the biotechnology company’s stock after buying an additional 51,400 shares during the period. Principal Financial Group Inc. owned 0.81% of Flex Pharma worth $1,556,000 at the end of the most recent reporting period.
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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