Flex Pharma Inc. (FLKS) Trading Down 8.8%
Flex Pharma Inc. (NASDAQ:FLKS)’s share price fell 8.8% during trading on Friday . The company traded as low as $10.95 and last traded at $10.95, with a volume of 59,851 shares changing hands. The stock had previously closed at $12.00.
A number of brokerages recently commented on FLKS. HC Wainwright restated a “buy” rating on shares of Flex Pharma in a report on Friday, June 3rd. Piper Jaffray Cos. restated a “buy” rating on shares of Flex Pharma in a report on Thursday, June 2nd. Cantor Fitzgerald restated a “buy” rating on shares of Flex Pharma in a report on Thursday, May 26th. Zacks Investment Research upgraded Flex Pharma from a “sell” rating to a “hold” rating in a report on Tuesday, June 7th. Finally, Jefferies Group restated a “buy” rating and set a $25.00 target price on shares of Flex Pharma in a report on Friday, June 10th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Flex Pharma has an average rating of “Buy” and an average price target of $20.65.
The company’s market cap is $174.21 million. The stock’s 50 day moving average price is $11.50 and its 200-day moving average price is $10.69.
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 the Zacks’ consensus estimate of ($0.67) by $0.04. The firm earned $12.69 million during the quarter. On average, equities research analysts expect that Flex Pharma Inc. will post ($2.65) earnings per share for the current fiscal year.
In other Flex Pharma news, CEO Christoph H. Westphal bought 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was purchased at an average cost of $11.05 per share, for a total transaction of $62,985.00. Following the completion of the purchase, the chief executive officer now owns 3,925,248 shares of the company’s stock, valued at approximately $43,373,990.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Christoph H. Westphal bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 2nd. The stock was acquired at an average price of $12.99 per share, with a total value of $129,900.00. Following the completion of the purchase, 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.
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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