Flex Pharma Inc. (FLKS) Trading Up 2.8%
Flex Pharma Inc. (NASDAQ:FLKS)’s share price was up 2.8% on Thursday . The company traded as high as $11.14 and last traded at $10.79, with a volume of 53,025 shares traded. The stock had previously closed at $10.50.
A number of equities analysts have weighed in on FLKS shares. Piper Jaffray Cos. reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Thursday, June 2nd. Zacks Investment Research downgraded shares of Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Jefferies Group reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Wednesday, April 20th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Thursday, May 26th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Flex Pharma in a research note on Friday, June 3rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Flex Pharma presently has a consensus rating of “Buy” and an average target price of $23.88.
The company’s 50-day moving average price is $11.58 and its 200 day moving average price is $10.34. The firm’s market cap is $180.53 million.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported ($0.61) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by $0.05. On average, analysts forecast that Flex Pharma Inc. will post ($2.56) earnings per share for the current year.
In related news, CEO Christoph H. Westphal acquired 30,217 shares of the stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average cost of $10.12 per share, with a total value of $305,796.04. Following the completion of the transaction, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at approximately $39,723,509.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christoph H. Westphal acquired 10,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The shares were bought at an average cost of $12.99 per share, for a total transaction of $129,900.00. Following the completion of the transaction, the chief executive officer now directly owns 3,925,248 shares of the company’s stock, valued at approximately $50,988,971.52. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Flex Pharma stock. Principal Financial Group Inc. increased its position in shares of Flex Pharma Inc. (NASDAQ:FLKS) by 69.8% during the fourth quarter, Holdings Channel reports. The fund owned 125,000 shares of the biotechnology company’s stock after buying an additional 51,400 shares during the period. Principal Financial Group Inc. owned about 0.81% of Flex Pharma worth $1,556,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.