Flex Pharma Inc. (FLKS) Trading Up 6.9%
Flex Pharma Inc. (NASDAQ:FLKS) shares were up 6.9% on Wednesday . The stock traded as high as $11.61 and last traded at $11.52, with a volume of 61,805 shares. The stock had previously closed at $10.78.
Several research analysts recently weighed in on FLKS shares. Roth Capital cut their target price on Flex Pharma from $27.00 to $24.00 in a research report on Tuesday, April 12th. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Jefferies Group reaffirmed a “buy” rating on shares of Flex Pharma in a research report on Wednesday, April 20th. Finally, HC Wainwright reiterated a “buy” rating on shares of Flex Pharma in a report on Friday, June 3rd. 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 a consensus rating of “Buy” and an average target price of $20.65.
The stock’s 50 day moving average is $11.21 and its 200 day moving average is $10.35. The company’s market capitalization is $184.22 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.67) by $0.04. The business had revenue of $12.69 million for the quarter. Analysts anticipate that Flex Pharma Inc. will post ($2.56) earnings per share for the current year.
In other news, CEO Christoph H. Westphal acquired 15,469 shares of the stock in a transaction on Monday, May 16th. The shares were 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 approximately $40,233,792. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christoph H. Westphal acquired 30,217 shares of the stock in a transaction on Thursday, May 12th. The shares were purchased at an average price of $10.12 per share, for a total transaction of $305,796.04. Following the completion of the transaction, the chief executive officer now owns 3,925,248 shares in the company, valued at approximately $39,723,509.76. 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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