Flex Pharma Inc. (FLKS) Sees Large Volume Increase
Shares of Flex Pharma Inc. (NASDAQ:FLKS) saw unusually-strong trading volume on Wednesday . Approximately 177,629 shares traded hands during trading, an increase of 239% from the previous session’s volume of 52,387 shares.The stock last traded at $11.83 and had previously closed at $12.05.
Several equities research analysts have commented on FLKS shares. Cantor Fitzgerald reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Piper Jaffray Cos. restated a “buy” rating on shares of Flex Pharma in a research note on Wednesday, May 4th. Zacks Investment Research lowered shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. HC Wainwright restated a “buy” rating on shares of Flex Pharma in a research note on Friday, June 3rd. Finally, Jefferies Group restated a “buy” rating and set a $25.00 price objective on shares of Flex Pharma in a research note on Friday, June 10th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Flex Pharma presently has an average rating of “Buy” and a consensus price target of $20.65.
The company’s 50-day moving average price is $11.45 and its 200 day moving average price is $10.65. The company’s market cap is $188.09 million.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings data on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by $0.04. The firm had revenue of $12.69 million for the quarter. Equities research analysts forecast that Flex Pharma Inc. will post ($2.65) earnings per share for the current year.
In other news, CEO Christoph H. Westphal bought 22,300 shares of Flex Pharma stock in a transaction that occurred on Tuesday, May 31st. The stock was bought at an average cost of $12.68 per share, with a total value of $282,764.00. Following the acquisition, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at approximately $49,772,144.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christoph H. Westphal bought 2,700 shares of Flex Pharma stock in a transaction that occurred on Thursday, June 23rd. The stock was purchased at an average cost of $11.28 per share, with a total value of $30,456.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,925,248 shares in the company, valued at approximately $44,276,797.44. 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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