Flex Pharma Inc. (FLKS) Trading Up 6.9%
Flex Pharma Inc. (NASDAQ:FLKS) shares were up 6.9% during trading on Wednesday . The stock traded as high as $11.61 and last traded at $11.52, with a volume of 61,805 shares traded. The stock had previously closed at $10.78.
Several research analysts have recently commented on FLKS shares. Roth Capital reissued a “buy” rating on shares of Flex Pharma in a research report on Monday, April 11th. Jefferies Group reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, April 20th. Piper Jaffray Cos. reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, April 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Flex Pharma in a research report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded Flex Pharma from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $20.65.
The firm’s 50 day moving average is $11.23 and its 200-day moving average is $10.37. The stock’s market cap is $182.30 million.
Flex Pharma (NASDAQ:FLKS) last released 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 firm earned $12.69 million during the quarter. Analysts forecast that Flex Pharma Inc. will post ($2.70) earnings per share for the current year.
In other news, CEO Christoph H. Westphal purchased 30,109 shares of the stock in a transaction dated Tuesday, May 10th. The stock was acquired at an average cost of $9.94 per share, for a total transaction of $299,283.46. Following the completion of the transaction, the chief executive officer now directly owns 3,925,248 shares in the company, valued at approximately $39,016,965.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christoph H. Westphal purchased 2,700 shares of the stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average price of $11.28 per share, with a total value of $30,456.00. Following the completion of the transaction, the chief executive officer now owns 3,925,248 shares of the company’s stock, 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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