Flex Pharma Inc. (NASDAQ:FLKS) Receives $24.67 Average PT from Analysts
Flex Pharma Inc. (NASDAQ:FLKS) has been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.67.
A number of research firms recently weighed in on FLKS. Piper Jaffray Cos. set a $25.00 price target on shares of Flex Pharma and gave the company a “buy” rating in a research report on Thursday, August 18th. Zacks Investment Research lowered shares of Flex Pharma from a “hold” rating to a “sell” rating in a research report on Friday, August 5th.
A number of hedge funds have recently made changes to their positions in FLKS. BlackRock Advisors LLC raised its stake in shares of Flex Pharma by 2.7% in the second quarter. BlackRock Advisors LLC now owns 21,983 shares of the biotechnology company’s stock valued at $224,000 after buying an additional 588 shares in the last quarter. ProShare Advisors LLC raised its stake in Flex Pharma by 6.0% in the second quarter. ProShare Advisors LLC now owns 14,682 shares of the biotechnology company’s stock valued at $150,000 after buying an additional 832 shares during the period. Spark Investment Management LLC raised its stake in Flex Pharma by 15.6% in the second quarter. Spark Investment Management LLC now owns 33,400 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 4,500 shares during the period. Teachers Advisors Inc. raised its stake in Flex Pharma by 84.2% in the second quarter. Teachers Advisors Inc. now owns 14,101 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 6,447 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Flex Pharma by 11.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 69,626 shares of the biotechnology company’s stock valued at $764,000 after buying an additional 6,917 shares during the period. 33.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Flex Pharma (NASDAQ:FLKS) opened at 11.30 on Friday. The firm’s market cap is $178.16 million. The company’s 50 day moving average is $11.42 and its 200 day moving average is $11.39. Flex Pharma has a 52-week low of $6.48 and a 52-week high of $13.97.
Flex Pharma (NASDAQ:FLKS) last released its quarterly earnings results on Wednesday, August 3rd. The biotechnology company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by $0.04. The company had revenue of $12.69 million for the quarter. Analysts anticipate that Flex Pharma will post ($2.67) earnings per share for the current year.
Flex Pharma Company Profile
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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