Flex Pharma Inc. (FLKS) Shares Up 4.5%
Flex Pharma Inc. (NASDAQ:FLKS)’s share price shot 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. The stock had previously closed at $11.44.
A number of research firms have recently weighed in on FLKS. HC Wainwright reissued a “buy” rating on shares of Flex Pharma in a report on Friday, June 3rd. Piper Jaffray Cos. reissued a “buy” rating on shares of Flex Pharma in a report on Thursday, June 2nd. Cantor Fitzgerald reissued a “buy” rating on shares of Flex Pharma in a report on Thursday, May 26th. Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Jefferies Group reissued a “buy” rating and issued a $25.00 price target on shares of Flex Pharma in a 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 company. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.65.
The company’s 50-day moving average is $11.41 and its 200-day moving average is $10.64. The firm’s market capitalization is $190.93 million.
Flex Pharma (NASDAQ:FLKS) last issued its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.67) by $0.04. The business had revenue of $12.69 million for the quarter. Equities research analysts predict that Flex Pharma Inc. will post ($2.65) EPS for the current fiscal year.
In other Flex Pharma news, CEO Christoph H. Westphal purchased 22,300 shares of the business’s stock in a transaction on Tuesday, May 31st. The shares were purchased at an average cost of $12.68 per share, with a total value of $282,764.00. Following the transaction, the chief executive officer now directly owns 3,925,248 shares of the company’s stock, valued at approximately $49,772,144.64. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christoph H. Westphal purchased 5,700 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were acquired at an average cost of $11.05 per share, for a total transaction of $62,985.00. Following the completion of the transaction, the chief executive officer now directly owns 3,925,248 shares in the company, valued at $43,373,990.40. 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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