Flex Pharma Inc. (FLKS) Trading Up 4.5%
Shares of Flex Pharma Inc. (NASDAQ:FLKS) were up 4.5% on Monday . The company traded as high as $12.07 and last traded at $11.95, with a volume of 72,411 shares traded. The stock had previously closed at $11.44.
A number of analysts recently weighed in on FLKS shares. Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Cantor Fitzgerald reiterated a “buy” rating on shares of Flex Pharma in a research report on Thursday, May 26th. HC Wainwright reiterated a “buy” rating on shares of Flex Pharma in a research report on Friday, June 3rd. Piper Jaffray Cos. reiterated a “buy” rating on shares of Flex Pharma in a research report on Thursday, June 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Flex Pharma in a research report on Friday, June 10th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Flex Pharma has a consensus rating of “Buy” and an average price target of $20.65.
The firm’s market cap is $185.64 million. The stock’s 50-day moving average is $11.35 and its 200-day moving average is $10.54.
Flex Pharma (NASDAQ:FLKS) last released its earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by $0.04. The company earned $12.69 million during the quarter. Equities analysts anticipate that Flex Pharma Inc. will post ($2.65) EPS for the current fiscal year.
In other Flex Pharma news, CEO Christoph H. Westphal bought 2,700 shares of the business’s stock in a transaction that occurred 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 accessible through the SEC website. Also, CEO Christoph H. Westphal bought 28,600 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The shares were acquired at an average price of $12.84 per share, with a total value of $367,224.00. Following the transaction, the chief executive officer now directly owns 3,925,248 shares of the company’s stock, valued at approximately $50,400,184.32. 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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