Flex Pharma Inc. (FLKS) Shares Down 3.6%
Flex Pharma Inc. (NASDAQ:FLKS) shares were down 3.6% on Wednesday . The stock traded as low as $11.48 and last traded at $11.56, with a volume of 70,960 shares. The stock had previously closed at $11.99.
Several research analysts have recently weighed in on FLKS shares. Roth Capital decreased their price target on Flex Pharma from $27.00 to $24.00 in a research note on Tuesday, April 12th. Piper Jaffray Cos. restated a “buy” rating on shares of Flex Pharma in a research note on Wednesday, May 4th. Cantor Fitzgerald restated a “buy” rating on shares of Flex Pharma in a research note on Wednesday, May 4th. Jefferies Group restated a “buy” rating on shares of Flex Pharma in a research note on Wednesday, April 20th. Finally, HC Wainwright restated a “buy” rating on shares of Flex Pharma in a research note on Friday, June 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Flex Pharma has an average rating of “Buy” and a consensus price target of $23.88.
The stock’s market capitalization is $185.66 million. The company has a 50 day moving average of $11.55 and a 200 day moving average of $10.32.
Flex Pharma (NASDAQ:FLKS) last announced its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.05. On average, equities research analysts forecast that Flex Pharma Inc. will post ($2.56) EPS for the current fiscal year.
In related news, CEO Christoph H. Westphal bought 30,109 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were acquired at an average price of $9.94 per share, with a total value of $299,283.46. Following the transaction, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at $39,016,965.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christoph H. Westphal bought 30,217 shares of the company’s stock in a transaction on Thursday, May 12th. The shares were bought at an average cost of $10.12 per share, for a total transaction of $305,796.04. Following the transaction, the chief executive officer now directly owns 3,925,248 shares in the company, valued at approximately $39,723,509.76. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Flex Pharma stock. CAM Group Holding A S raised its stake in shares of Flex Pharma Inc. (NASDAQ:FLKS) by 109.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the biotechnology company’s stock after buying an additional 78,300 shares during the period. CAM Group Holding A S owned approximately 0.97% of Flex Pharma worth $1,868,000 as of its most recent filing with the SEC.
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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