Flex Pharma Inc. (FLKS) Trading Up 8.1%
Flex Pharma Inc. (NASDAQ:FLKS) shares were up 8.1% during mid-day trading on Wednesday . The company traded as high as $12.00 and last traded at $11.90, with a volume of 70,154 shares trading hands. The stock had previously closed at $11.01.
A number of research analysts have recently issued reports on FLKS shares. Roth Capital reduced their price objective on Flex Pharma from $27.00 to $24.00 in a research note on Tuesday, April 12th. Piper Jaffray Cos. reiterated a “buy” rating on shares of Flex Pharma in a report on Wednesday, May 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Flex Pharma in a report on Wednesday, May 4th. Jefferies Group reiterated a “buy” rating on shares of Flex Pharma in a report on Wednesday, April 20th. Finally, HC Wainwright reiterated a “buy” rating on shares of Flex Pharma in a report on Friday, June 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $20.65.
The company’s market capitalization is $190.95 million. The company has a 50 day moving average of $11.38 and a 200 day moving average of $10.31.
Flex Pharma (NASDAQ:FLKS) last announced its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.56) by $0.05. Equities research analysts anticipate that Flex Pharma Inc. will post ($2.56) EPS for the current fiscal year.
In other Flex Pharma news, CEO Christoph H. Westphal bought 30,109 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $9.94 per share, for a total transaction of $299,283.46. Following the transaction, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at $39,016,965.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christoph H. Westphal bought 30,217 shares of the firm’s stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of $10.12 per share, for a total transaction of $305,796.04. Following the completion of the transaction, the chief executive officer now directly owns 3,925,248 shares in the company, valued at approximately $39,723,509.76. 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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