Flex Pharma Inc. (FLKS) Sees Strong Trading Volume
Shares of Flex Pharma Inc. (NASDAQ:FLKS) saw unusually-strong trading volume on Tuesday . Approximately 130,890 shares were traded during mid-day trading, a decline of 5% from the previous session’s volume of 137,619 shares.The stock last traded at $11.07 and had previously closed at $11.13.
FLKS has been the topic of a number of research analyst reports. Roth Capital restated a “buy” rating on shares of Flex Pharma in a research report on Monday, April 11th. Jefferies Group restated a “buy” rating on shares of Flex Pharma in a research report on Wednesday, April 20th. Piper Jaffray Cos. restated a “buy” rating on shares of Flex Pharma in a research report on Wednesday, April 20th. Cantor Fitzgerald restated a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded shares of Flex Pharma from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.65.
The firm’s market cap is $176.37 million. The firm has a 50-day moving average of $11.41 and a 200-day moving average of $10.29.
Flex Pharma (NASDAQ:FLKS) last posted its earnings results on Wednesday, May 4th. The biotechnology company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.05. Analysts predict that Flex Pharma Inc. will post ($2.56) EPS for the current fiscal year.
In other news, CEO Christoph H. Westphal acquired 30,217 shares of the business’s stock in a transaction dated Thursday, May 12th. The shares were purchased 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 in the company, valued at $39,723,509.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christoph H. Westphal acquired 15,469 shares of the business’s stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $158,557.25. Following the transaction, the chief executive officer now owns 3,925,248 shares in the company, valued at $40,233,792. 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 increased its stake in Flex Pharma Inc. (NASDAQ:FLKS) by 109.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.97% of Flex Pharma worth $1,868,000 at the end of the most recent quarter.
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 Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.