Flex Pharma Inc. (FLKS) Shares Down 8.8%
Flex Pharma Inc. (NASDAQ:FLKS)’s share price traded down 8.8% during trading on Friday . The stock traded as low as $10.95 and last traded at $10.95, with a volume of 59,851 shares. The stock had previously closed at $12.00.
Several equities analysts recently commented on the company. Cantor Fitzgerald reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Piper Jaffray Cos. reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Jefferies Group reissued a “buy” rating and set a $25.00 price target on shares of Flex Pharma in a research report on Friday, June 10th. Zacks Investment Research raised Flex Pharma from a “sell” rating to a “hold” rating in a research report on Tuesday, June 7th. Finally, HC Wainwright reissued a “buy” rating on shares of Flex Pharma in a research report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.65.
The stock has a 50 day moving average of $11.50 and a 200-day moving average of $10.69. The firm’s market cap is $174.21 million.
Flex Pharma (NASDAQ:FLKS) last posted its quarterly earnings results 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 company earned $12.69 million during the quarter. Analysts anticipate that Flex Pharma Inc. will post ($2.65) earnings per share for the current fiscal year.
In other news, CEO Christoph H. Westphal bought 10,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were bought at an average cost of $12.99 per share, with a total value of $129,900.00. Following the transaction, the chief executive officer now directly owns 3,925,248 shares in the company, valued at approximately $50,988,971.52. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christoph H. Westphal bought 2,700 shares of the company’s stock in a transaction on Thursday, June 23rd. The stock was purchased at an average cost 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 in the company, valued at $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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