Flex Pharma Inc. (FLKS) Shares Down 4.5%
Flex Pharma Inc. (NASDAQ:FLKS) traded down 4.5% during trading on Tuesday . The company traded as low as $10.68 and last traded at $10.78, with a volume of 64,946 shares. The stock had previously closed at $11.29.
A number of research analysts have weighed in on FLKS shares. Jefferies Group reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Flex Pharma in a research note on Friday, June 10th. Zacks Investment Research raised shares of Flex Pharma from a “sell” rating to a “hold” rating in a research note on Tuesday, June 7th. HC Wainwright reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Friday, June 3rd. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Thursday, June 2nd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Thursday, May 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $20.65.
The firm’s 50-day moving average price is $11.21 and its 200-day moving average price is $10.35. The stock’s market cap is $172.68 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.05. On average, equities research analysts predict that Flex Pharma Inc. will post ($2.56) EPS for the current fiscal year.
In other news, CEO Christoph H. Westphal purchased 30,217 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average cost of $10.12 per share, for a total transaction of $305,796.04. Following the acquisition, the chief executive officer now directly owns 3,925,248 shares of the company’s stock, valued at approximately $39,723,509.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christoph H. Westphal purchased 10,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were purchased at an average price of $12.99 per share, with a total value of $129,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,925,248 shares in the company, valued at $50,988,971.52. The disclosure for this purchase can be found here.
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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